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2023-05-08 iso4217:USD xbrli:shares iso4217:USD xbrli:shares
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
8-K
CURRENT REPORT
Pursuant to Section 13
or 15(d) of
The Securities Exchange
Act of 1934
Date of Report (Date of earliest event reported): May 11,
2023 (May
8, 2023)
ASCENT SOLAR TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
Delaware |
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001-32919 |
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20-3672603 |
(State or other jurisdiction of
incorporation) |
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(Commission File Number) |
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(I.R.S. Employer Identification
No.) |
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12300 Grant Street |
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Thornton,
CO
80241 |
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(Address of principal executive
offices) |
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(720)
872-5000 |
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(Registrant’s telephone number, including area
code) |
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Not Applicable
(Former name, former address, and former fiscal year, if changed
since last report.)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
☐ Written communications pursuant to Rule
425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule
14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant
to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant
to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each
class |
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Trading Symbol(s) |
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Name of each exchange on which
registered |
Common |
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ASTI |
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Nasdaq Capital Market |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933
(§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period
for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange
Act. ☐
Item 5.02 Departure of Directors or Certain Officers: Election
of Directors; Appointment of Certain Officer; Compensatory
Arrangements of Certain Officers.
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Item 5.02 (c) |
Appointment of New Chief
Operating Officer and New Chief Financial Officer. |
Effective May 8, 2023, the board of directors of Ascent Solar
Technologies, Inc. (“Ascent” or the “Company”) appointed (i) Bobby
Gulati as the Company’s new Chief Operating Officer and (ii) Jin Jo
as the Company’s new Chief Financial Officer.
Paul
Warley, the Company’s newly appointed CEO, will no longer serve as
CFO.
New COO
Mr.
Gulati, age 58, has over 30 years of executive leadership
experience in engineering and manufacturing roles. Mr. Gulati
joined Ascent in February 2012 as Head Equipment Engineer. In March
2014, he was promoted to Director of Equipment Engineering with
emphasis on International Business Development. In 2020, Mr. Gulati
was promoted to Chief Information Officer.
From
2010 to 2012 Mr. Gulati was the Director of Equipment Engineering
for Twin Creeks Technologies, an amorphous silicon solar
manufacturing company, and was responsible for the operations of
the 5MW solar cell manufacturing facility in Senatobia,
Mississippi. From 2001 to 2010, Mr. Gulati was the co-founder and
President of TriStar Systems, a manufacturer of automated
manufacturing and assembly equipment for the solar, aerospace and
disk drive industries. From 1992 to 2000, Mr. Gulati was the
co-founder and Chief Operating Officer of the publicly traded
company NexStar Automation, whose focus was designing and building
automated production equipment for the semiconductor and medical
disposable industries.
Mr.
Gulati earned his B.S. degree in Electrical Engineering with a
minor in Computer Science and Robotics from the University of
Colorado, Denver.
New CFO
Ms.
Jo, age 45, has over 20 years in accounting. Ms. Jo joined the
Company in June 2021 as Financial Controller.
From
2015 to 2021, Ms. Jo was the head of technical accounting of
Empower Retirement, a financial services company, where her primary
focus was accounting research for complex new products, investments
and transactions, and new accounting standards implementation on
International Financial Reporting Standards, US GAAP and insurance
Statutory Accounting Principles. From 2011 to 2015, Ms. Jo was an
Inspection Specialist at the Public Company Accounting Oversight
Board where she assessed auditor compliance with audit professional
standards. Ms. Jo started her career in public accounting, spending
11years in the audit and assurance practice serving both public and
private companies.
Ms.
Jo is a certified public accountant in the state of Colorado and
earned her B.S. degree in Business Administration from the
University of Colorado, Boulder.
Item 7.01 Regulation FD Disclosure.
On
May 11, 2023, the Company issued a press release regarding the
appointment of Mr. Gulati and Ms. Jo. This press release is
furnished herewith as Exhibit 99.1 and is incorporated herein by
reference.
The
information set forth under this Item 7.01, including Exhibit 99.1,
of this Current Report on Form 8-K shall not be deemed to be
“filed” for purposes of Section 18 of the Securities Exchange Act
of 1934 (the “Exchange Act”), or otherwise subject to the
liabilities of that section, nor shall it be deemed incorporated by
reference in any filing made by the Company under the Securities
Act of 1933 or the Exchange Act, except as shall be expressly set
forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
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ASCENT
SOLAR TECHNOLOGIES, INC. |
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May 11, 2023 |
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By: |
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/s/ Jin
Jo |
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Name: Jin Jo |
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Title: Chief Financial Officer |
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