Ascent Solar Technologies, Inc. (NasdaqGM: ASTI) reported that TFG Radiant Investment Group, Ltd. (TFG Radiant), is poised to increase its ownership interest in the Thornton, Colo., based solar panel manufacturer. TFG Radiant acquired approximately 20 percent of the outstanding shares of Ascent in August 2011. The increase will put TFG Radiant's ownership at approximately 41 percent.
The Company said "TFG Radiant will purchase the stake in the Company presently owned by Norsk Hydro Produksjon AS for $4 million, or approximately $0.50 per share. The transaction is expected to close within the next 90 days."
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