SEC Form 4 · accession 0001209191-17-031041
Ascent Solar Technologies, Inc. · ASTI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Hong Kong Boone Group Ltd
10% Owner
Period of report
May 5, 2017
Accepted (ET)
May 9, 2017 · 5:31 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001350102
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | May 5, 2017 | C | 200,000,000 | $0.0004 | A | 200,000,000 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Series K Convertible Preferred StockF1,F2,F5,F3,F4 | $0.004 | May 5, 2017 | P | 800 | A | — | May 5, 2022 | Common Stock | 200,000,000 | 800 | D |
| Series K Convertible Preferred StockF1,F5,F2,F4 | $0.004 | May 5, 2017 | C | 800 | D | May 5, 2017 | May 5, 2022 | Common Stock | 200,000,000 | 0 | D |
Explanation of responses
- F1On May 5, 2017, the reporting person (i) purchased 800 shares of Series K Convertible Preferred Stock for an aggregate purchase price of $800,000 and (ii) converted such preferred shares into common stock at the applicable conversion price of $0.004, which resulted in the reporting person receiving 200,000,000 shares of common stock upon such conversion. Accordingly, the 800 preferred shares are no longer outstanding.
- F2The reporting person subscribed for 20,000 shares of the Company's newly designated Series K Convertible Preferred Stock on February 8, 2017. The preferred shares will be sold to the reporting person in multiple tranches over the period from February 24, 2017 through June 27, 2017. The Series K Preferred Stock is convertible into common stock at a fixed conversion price equal to $0.004. The Series K Preferred Stock may not be converted if the number of shares of common stock to be received by the reporting person would result in the reporting person beneficially owning more than 19.99% of all common stock then outstanding.
- F3The Series K Convertible Preferred Stock is convertible immediately upon issue.
- F4The Series K Convertible Preferred Stock is required to be redeemed five years after the initial date of issue.
- F5The reporting person continues to have the right to acquire (beneficial ownership) of an additional 19,200 shares of the Company's newly designated Series K Convertible Preferred Stock pursuant to the stock purchase agreement of February 8, 2017 within the next 60 days. Any additional shares of Series K Preferred Stock acquired by the reporting person may not be converted if the number of shares of common stock to be received by the reporting person would result in the reporting person beneficially owning more than 19.99% of all common stock then outstanding.