Document:

Exhibit 10.5

 

TPG Pace VI Holdings Corp.

c/o TPG Global, LLC

301 Commerce St., Suite
3300 

Fort Worth, TX 76102

 

	
        TPG Pace VI Sponsor (Series
        S)

        301 Commerce St., Suite
        3300

 Fort Worth, TX 76102
	January 12, 2021 

 

	 	RE:	Securities Subscription Agreement

 

 Ladies and Gentlemen:

 

This
agreement and the terms hereof (this “Agreement”) memorializes the purchase of 20,000,000 of Class B ordinary
shares (the “Shares”), $0.0001 par value per share (the “Class B Shares”) in TPG Pace VI
Holdings Corp., a Cayman Islands exempted company (the “Company”) by TPG Pace VI Sponsor (Series S), a series
of TPG Pace VI Sponsor, Series LLC, a Delaware series limited liability company (the “Subscriber” or “you”),
which occurred on January 8, 2021 (the “Effective Date”). For the purposes of this Agreement, references to
“Ordinary Shares” are to, collectively, the Class B Shares and the Company’s Class A ordinary shares,
$0.0001 par value per share (the “Class A Shares”). Pursuant to the Company’s memorandum and articles
of association, as amended to the date hereof (the “Articles”), Class B Shares will convert into Class A Shares
on a one-for-one basis, subject to adjustment, upon the terms and conditions set forth in the Articles. Unless the context otherwise
requires, as used herein “Shares” shall be deemed to include any Class A Shares issued upon conversion of the Class
B Shares comprising the Shares. The terms on which the Company sold the Shares to the Subscriber on the Effective Date, and the
Company and the Subscriber’s agreements regarding such Shares, are as follows:

 

		1.	Purchase of Shares.

 

With effect
as of the Effective Date, for the sum of $25,000 (the “Purchase Price”), which the Company acknowledges receiving
in cash, the Company sold and issued the Shares to the Subscriber, and the Subscriber purchased the Shares from the Company, on
the terms and subject to the conditions set forth in this Agreement. Concurrently with the Subscriber’s execution of this
Agreement, the Company shall, at its option, deliver to the Subscriber a certificate registered in the Subscriber’s name
representing the Shares (the “Original Certificate”) or effect such delivery in book-entry form. Any future
forfeiture of shares of the Company (as agreed between the Subscriber and the Company) shall take effect as surrenders for no consideration
of such shares as a matter of Cayman Islands law.

 

     

     

    

 

		2.	Representations, Warranties and Agreements.

 

2.1           Subscriber’s
Representations, Warranties and Agreements. To induce the Company to issue the Shares to the Subscriber, the Subscriber hereby
represents and warrants to the Company and agrees with the Company as follows (such representations being true as of the Effective
Date or the date hereof, as applicable):

 

2.1.1         No
Government Recommendation or Approval. The Subscriber understands that no federal or state agency has passed upon or made
any recommendation or endorsement of the offering of the Shares.

 

2.1.2        
No Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Subscriber of
the transactions contemplated hereby do not violate, conflict with or constitute a default under (i) the formation and governing
documents of the Subscriber, (ii) any agreement, indenture or instrument to which the Subscriber is a party or (iii) any law, statute,
rule or regulation to which the Subscriber is subject, or any agreement, order, judgment or decree to which the Subscriber is subject.

 

2.1.3         
Organization and Authority. The Subscriber is a Delaware limited liability company, validly existing and in good
standing under the laws of the State of Delaware and possesses all requisite power and authority necessary to carry out the transactions
contemplated by this Agreement. Upon execution and delivery by you, this Agreement is a legal, valid and binding agreement of Subscriber,
enforceable against Subscriber in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy,
insolvency, fraudulent conveyance or similar laws affecting the enforcement of creditors’ rights generally and subject to
general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity).

 

2.1.4        
Experience, Financial Capability and Suitability. Subscriber is: (i) sophisticated in financial matters and is able
to evaluate the risks and benefits of the investment in the Shares and (ii) able to bear the economic risk of its investment in
the Shares for an indefinite period of time because the Shares have not been registered under the Securities Act (as defined below)
and therefore cannot be sold unless subsequently registered under the Securities Act or an exemption from such registration is
available. Subscriber is capable of evaluating the merits and risks of its investment in the Company and has the capacity to protect
its own interests. Subscriber must bear the economic risk of this investment until the Shares are sold pursuant to: (i) an effective
registration statement under the Securities Act or (ii) an exemption from registration available with respect to such sale. Subscriber
is able to bear the economic risks of an investment in the Shares and to afford a complete loss of Subscriber’s investment
in the Shares.

 

2.1.5         Access
to Information; Independent Investigation. Prior to the execution of this Agreement, the Subscriber has had the
opportunity to ask questions of and receive answers from representatives of the Company concerning an investment in the
Company, as well as the finances, operations, business and prospects of the Company, and the opportunity to obtain additional
information to verify the accuracy of all information so obtained. In determining whether to make this investment, Subscriber
has relied solely on Subscriber’s own knowledge and understanding of the Company and its business based upon
Subscriber’s own due diligence investigation and the information furnished pursuant to this paragraph. Subscriber
understands that no person has been authorized to give any information or to make any representations which were not
furnished pursuant to this Section 2 and Subscriber has not relied on any other representations or information in making its
investment decision, whether written or oral, relating to the Company, its operations and/or its prospects.

 

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2.1.6        
Regulation D Offering. Subscriber represents that it is an “accredited investor” as such term is defined
in Rule 501(a) of Regulation D under the Securities Act of 1933, as amended (the “Securities Act”) and acknowledges
the sale contemplated hereby is being made in reliance on a private placement exemption to “accredited investors” within
the meaning of Section 501(a) of Regulation D under the Securities Act or similar exemptions under state law.

 

2.1.7        
Investment Purposes. The Subscriber is purchasing the Shares solely for investment purposes, for the Subscriber’s
own account and not for the account or benefit of any other person, and not with a view towards the distribution or dissemination
thereof. The Subscriber did not decide to enter into this Agreement as a result of any general solicitation or general advertising
within the meaning of Rule 502 under the Securities Act.

 

2.1.8        
Restrictions on Transfer; Shell Company. Subscriber understands the Shares are being offered in a transaction not
involving a public offering within the meaning of the Securities Act. Subscriber understands the Shares will be “restricted
securities” within the meaning of Rule 144(a)(3) under the Securities Act and Subscriber understands that the certificates
or book-entries representing the Shares will contain a legend in respect of such restrictions. If in the future the Subscriber
decides to offer, resell, pledge or otherwise transfer the Shares, such Shares may be offered, resold, pledged or otherwise transferred
only pursuant to: (i) registration under the Securities Act, or (ii) an available exemption from registration. Subscriber agrees
that if any transfer of its Shares or any interest therein is proposed to be made, as a condition precedent to any such transfer,
Subscriber may be required to deliver to the Company an opinion of counsel satisfactory to the Company. Absent registration or
an exemption, the Subscriber agrees not to resell the Shares. Subscriber further acknowledges that because the Company is a shell
company, Rule 144 may not be available to the Subscriber for the resale of the Shares until one year following consummation of
the initial business combination of the Company, despite technical compliance with the requirements of Rule 144 and the release
or waiver of any contractual transfer restrictions.

 

2.1.9        
No Governmental Consents. No governmental, administrative or other third party consents or approvals are required,
necessary or appropriate on the part of Subscriber in connection with the transactions contemplated by this Agreement.

 

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2.2           Company’s Representations, Warranties and Agreements. To induce the Subscriber to purchase the Shares, the
Company hereby represents and warrants to the Subscriber and agrees with the Subscriber as follows:

 

2.2.1         Organization
and Corporate Power. The Company is a Cayman Islands exempted company and is qualified to do business in every jurisdiction
in which the failure to so qualify would reasonably be expected to have a material adverse effect on the financial condition,
operating results or assets of the Company. The Company possesses all requisite corporate power and authority necessary to carry
out the transactions contemplated by this Agreement.

 

2.2.2         No
Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions
contemplated hereby do not violate, conflict with or constitute a default under (i) the Memorandum and Articles of Association
of the Company, (ii) any agreement, indenture or instrument to which the Company is a party or (iii) any law, statute, rule or
regulation to which the Company is subject, or any agreement, order, judgment or decree to which the Company is subject.

 

2.2.3         Title
to Shares. Upon issuance in accordance with, and payment pursuant to, the terms hereof, and registration on the register of
members of the Company, the Shares will be duly and validly issued, fully paid and nonassessable. Upon issuance in accordance
with, and payment pursuant to, the terms hereof the Subscriber will have or receive good title to the Shares, free and clear of
all liens, claims and encumbrances of any kind, other than (a) transfer restrictions hereunder and under the other agreements
to which the Shares may be subject, (b) transfer restrictions under federal and state securities laws, and (c) liens, claims or
encumbrances imposed due to the actions of the Subscriber.

 

2.2.4        
No Adverse Actions. There are no actions, suits, investigations or proceedings pending, threatened against or affecting
the Company which: (i) seek to restrain, enjoin, prevent the consummation of or otherwise affect the transactions contemplated
by this Agreement or (ii) question the validity or legality of any transactions or seeks to recover damages or to obtain other
relief in connection with any transactions.

 

2.2.5        
Authorization. The Class A Shares issuable upon conversion of the Class B Shares have been duly authorized and reserved
for issuance upon such conversion.

 

2.3           Termination
of Rights as Shareholder. If any of the Shares are forfeited, then after such time the Subscriber (or successor in interest),
shall no longer have any rights as a holder of such forfeited Shares, and the Company shall take such action as is appropriate
to cancel such forfeited Shares.

 

2.4           Share
Certificates. In the event an adjustment to the Original Certificate, if any, is required pursuant to this Section 3, then
the Subscriber shall return such Original Certificate to the Company or its designated agent as soon as practicable upon its receipt
of notice from the Company advising Subscriber of such adjustment, following which a new certificate (the “New Certificate”),
if any, shall be issued in such amount representing the adjusted number of Shares held by the Subscriber. The New Certificate,
if any, shall be returned to the Subscriber as soon as practicable. Any such adjustment for any uncertificated securities held
by the Subscriber shall be made in book-entry form.

 

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3.             Waiver of Liquidation Distributions; Redemption Rights. In connection with the Shares purchased pursuant to this
Agreement, the Subscriber hereby waives any and all right, title, interest or claim of any kind in or to any distributions by
the Company from the trust account which will be established for the benefit of the Company’s public shareholders and into
which substantially all of the proceeds of the IPO will be deposited (the “Trust Account”), in the event of
a liquidation of the Company upon the Company’s failure to timely complete an initial business combination. For purposes
of clarity, in the event the Subscriber purchases securities in the IPO or in the aftermarket, any Class A Shares so purchased
shall be eligible to receive any liquidating distributions by the Company. However, in no event will the Subscriber have the right
to redeem any Ordinary Shares held by it into funds held in the Trust Account upon the successful completion of an initial business
combination.

 

		4.	Restrictions on Transfer.

 

4.1           Securities
Law Restrictions. In addition to any restrictions to be contained in that certain letter agreement (commonly known as an “Insider
Letter”) to be dated on or prior to the closing of the IPO by and between Subscriber and the Company, Subscriber agrees
not to sell, transfer, pledge, hypothecate or otherwise dispose of all or any part of the Shares unless, prior thereto (a) a registration
statement on the appropriate form under the Securities Act and applicable state securities laws with respect to the Shares proposed
to be transferred shall then be effective or (b) the Company has received an opinion from counsel reasonably satisfactory to the
Company, that such registration is not required because such transaction is exempt from registration under the Securities Act
and the rules promulgated by the Securities and Exchange Commission thereunder and with all applicable state securities laws.

 

4.2           Restrictive Legends. All certificates representing the Shares shall have endorsed thereon legends substantially as
follows:

 

“THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE
SECURITIES LAWS AND NEITHER THE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE
DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT OR SUCH LAWS OR AN EXEMPTION FROM
REGISTRATION UNDER SUCH ACT AND SUCH LAWS WHICH, IN THE OPINION OF COUNSEL, IS AVAILABLE.”

 

“THE SECURITIES
REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A LOCKUP AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED
DURING THE TERM OF THE LOCKUP.”

 

4.3           Additional
Shares or Substituted Securities. In the event of the declaration of a share dividend, the declaration of an extraordinary
dividend payable in a form other than shares, a spin-off, a share split, an adjustment in conversion ratio, a recapitalization
or a similar transaction affecting the Company’s outstanding Ordinary Shares without receipt of consideration, any new,
substituted or additional securities or other property which are by reason of such transaction distributed with respect to any
Shares subject to this Section 5 or into which such Shares thereby become convertible shall immediately be subject to this Section
5 and Section 3. Appropriate adjustments to reflect the distribution of such securities or property shall be made to the number
and/or class of Shares subject to this Section 5 and Section 3.

 

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4.4           Registration Rights. Subscriber acknowledges that the Shares are being purchased pursuant to an exemption from the
registration requirements of the Securities Act and will become freely tradable only after certain conditions are met or they are
registered pursuant to a registration rights agreement to be entered into with the Company prior to the closing of the IPO (the
“Registration Rights Agreement”).

 

		5.	Other Agreements.

 

5.1           Further
Assurances. Subscriber agrees to execute such further instruments and to take such further action as may reasonably be necessary
to carry out the intent of this Agreement.

 

5.2           Notices. All notices, statements or other documents which are required or contemplated by this Agreement shall be:
(i) in writing and delivered personally or sent by first class registered or certified mail, overnight courier service or facsimile
or electronic transmission to the address designated in writing, (ii) by facsimile to the number most recently provided to such
party or such other address or fax number as may be designated in writing by such party and (iii) by electronic mail, to the electronic
mail address most recently provided to such party or such other electronic mail address as may be designated in writing by such
party. Any notice or other communication so transmitted shall be deemed to have been given on the day of delivery, if delivered
personally, on the business day following receipt of written confirmation, if sent by facsimile or electronic transmission, one
(1) business day after delivery to an overnight courier service or five (5) days after mailing if sent by mail.

 

5.3           Entire
Agreement. This Agreement, the Insider Letter and the Registration Rights Agreement each, substantially in the form to be
filed as an exhibit to the Registration Statement, embodies the entire agreement and understanding between the Subscriber and
the Company with respect to the subject matter hereof and supersedes all prior oral or written agreements and understandings relating
to the subject matter hereof. No statement, representation, warranty, covenant or agreement of any kind not expressly set forth
in this Agreement shall affect, or be used to interpret, change or restrict, the express terms and provisions of this Agreement.

 

5.4           Modifications
and Amendments. The terms and provisions of this Agreement may be modified or amended only by written agreement executed by
all parties hereto.

 

5.5           Waivers
and Consents. The terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted, only
by written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall
be deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of this Agreement, whether
or not similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose for which it
was given, and shall not constitute a continuing waiver or consent.

 

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5.6           Assignment. The rights and obligations under this Agreement may not be assigned by either party hereto without the
prior written consent of the other party.

 

5.7           Benefit.
All statements, representations, warranties, covenants and agreements in this Agreement shall be binding on the parties hereto
and shall inure to the benefit of the respective successors and permitted assigns of each party hereto. Nothing in this Agreement
shall be construed to create any rights or obligations except among the parties hereto, and no person or entity shall be regarded
as a third-party beneficiary of this Agreement.

 

5.8           Governing Law. This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance
with and governed by the laws of New York applicable to contracts wholly performed within the borders of such state, without giving
effect to the conflict of law principles thereof.

 

5.9           Severability.
In the event that any court of competent jurisdiction shall determine that any provision, or any portion thereof, contained in
this Agreement shall be unreasonable or unenforceable in any respect, then such provision shall be deemed limited to the extent
that such court deems it reasonable and enforceable, and as so limited shall remain in full force and effect. In the event that
such court shall deem any such provision, or portion thereof, wholly unenforceable, the remaining provisions of this Agreement
shall nevertheless remain in full force and effect

 

5.10         No Waiver of Rights, Powers and Remedies. No failure or delay by a party hereto in exercising any right, power or
remedy under this Agreement, and no course of dealing between the parties hereto, shall operate as a waiver of any such right,
power or remedy of such party. No single or partial exercise of any right, power or remedy under this Agreement by a party hereto,
nor any abandonment or discontinuance of steps to enforce any such right, power or remedy, shall preclude such party from any other
or further exercise thereof or the exercise of any other right, power or remedy hereunder. The election of any remedy by a party
hereto shall not constitute a waiver of the right of such party to pursue other available remedies. No notice to or demand on a
party not expressly required under this Agreement shall entitle the party receiving such notice or demand to any other or further
notice or demand in similar or other circumstances or constitute a waiver of the rights of the party giving such notice or demand
to any other or further action in any circumstances without such notice or demand.

 

5.11         Survival
of Representations and Warranties. All representations and warranties made by the parties hereto in this Agreement or in any
other agreement, certificate or instrument provided for or contemplated hereby, shall survive the execution and delivery hereof
and any investigations made by or on behalf of the parties.

 

5.12         No Broker or Finder. Each of the parties hereto represents and warrants to the other that no broker, finder or other
financial consultant has acted on its behalf in connection with this Agreement or the transactions contemplated hereby in such
a way as to create any liability on the other. Each of the parties hereto agrees to indemnify and save the other harmless from
any claim or demand for commission or other compensation by any broker, finder, financial consultant or similar agent claiming
to have been employed by or on behalf of such party and to bear the cost of legal expenses incurred in defending against any such
claim.

 

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5.13         Headings and Captions. The headings and captions of the various subdivisions of this Agreement are for convenience
of reference only and shall in no way modify or affect the meaning or construction of any of the terms or provisions hereof.

 

5.14         Counterparts.
This Agreement may be executed in one or more counterparts, all of which when taken together shall be considered one and the same
agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being
understood that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission
or any other form of electronic delivery, such signature shall create a valid and binding obligation of the party executing (or
on whose behalf such signature is executed) with the same force and effect as if such signature page were an original thereof.

 

5.15         Construction.
The parties hereto have participated jointly in the negotiation and drafting of this Agreement. If an ambiguity or question of
intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties hereto and no presumption
or burden of proof will arise favoring or disfavoring any party hereto because of the authorship of any provision of this Agreement.
The words “include,” “includes,” and “including” will be deemed to be
followed by “without limitation.” Pronouns in masculine, feminine, and neuter genders will be construed to
include any other gender, and words in the singular form will be construed to include the plural and vice versa, unless the context
otherwise requires. The words “this Agreement,” “herein,” “hereof,” “hereby,”
“hereunder,” and words of similar import refer to this Agreement as a whole and not to any particular subdivision
unless expressly so limited. The parties hereto intend that each representation, warranty, and covenant contained herein will
have independent significance. If any party hereto has breached any representation, warranty, or covenant contained herein in
any respect, the fact that there exists another representation, warranty or covenant relating to the same subject matter (regardless
of the relative levels of specificity) which such party hereto has not breached will not detract from or mitigate the fact that
such party hereto is in breach of the first representation, warranty, or covenant.

 

5.16        Mutual
Drafting. This Agreement is the joint product of the Subscriber and the Company and each provision hereof has been subject
to the mutual consultation, negotiation and agreement of such parties and shall not be construed for or against any party hereto.

 

6.             Voting
and Tender of Shares. Subscriber agrees to vote the Shares in favor of an initial business combination that the Company negotiates
and submits for approval to the Company’s shareholders and shall not seek redemption with respect to such Shares. Additionally,
the Subscriber agrees not to tender any Shares in connection with a tender offer presented to the Company’s shareholders
in connection with an initial business combination negotiated by the Company.

 

7.             Indemnification.
Each party shall indemnify the other against any loss, cost or damages (including reasonable attorney’s fees and expenses)
incurred as a result of such party’s breach of any representation, warranty, covenant or agreement in this Agreement.

 

If the
foregoing accurately sets forth our understanding and agreement, please sign the enclosed copy of the Agreement and return it to
us.

 

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	 	Very truly yours,
	 	 
	 	TPG PACE VI HOLDINGS CORP.
	 	 
	 	By:	/s/ Michael LaGatta
	 	Name:	Michael LaGatta
	 	Title:	Vice President

 

Accepted and agreed this 12th
day of January, 2021

 

TPG Pace VI Sponsor (Series
S)

By
its Managing Member

TPG
Pace Governance, LLC

 

	By:	/s/ Ken Murphy	 
	Name:	Ken Murphy	 
	Title:	Vice President	 

 

    9Exhibit 10.1

 

 

ASCENT SOLAR TECHNOLOGIES,
INC.

 

COMMON STOCK PURCHASE
AGREEMENT

 

THIS COMMON
STOCK PURCHASE AGREEMENT (the “Agreement”) is entered into as of the 4th day of March, 2021 (the “Effective
Date”) by and among ASCENT SOLAR TECHNOLOGIES, INC., a Delaware corporation (the “Company”), and the persons
or entities named on the executed counterpart signature pages attached hereto (the “Purchaser”).

 

RECITALS

 

WHEREAS,
the Company has authorized the sale and issuance of up to an aggregate of 75,000,000 shares of its Common Stock (the “Shares”);
and

 

WHEREAS, the
Company desires to issue and sell the Shares to Purchaser on the terms and conditions set forth herein.

 

NOW, THEREFORE,
in consideration of the foregoing, and the representations, warranties, covenants and conditions set forth below, the Company and
each Purchaser, intending to be legally bound, hereby agree as follows:

 

		1.	AGREEMENT TO SELL AND PURCHASE.

 

1.1              
Authorization of Shares. The Company has authorized the sale and issuance to the Purchaser of the Shares. The Shares
have the rights, preferences, privileges and restrictions set forth in the Company’s Certificate of Incorporation, as amended
to date (the “Charter”).

 

1.2              
Sale and Purchase. Subject to the terms and conditions hereof, at the Closing (as defined below), the Company hereby
agrees to issue and sell to Purchaser, and Purchaser agrees to purchase from the Company, 75,000,000 Shares, at a purchase price
of $0.04 per share (the “Purchase Price”).

 

		2.	THE CLOSING.

 

2.1              
Closing Date. The closing of the sale and purchase of the Shares (the “Closing”) shall be held on or
before March 10, 2021 (the “Closing Date”).

 

2.2              
Delivery. At the Closing, subject to the terms and conditions hereof, the Company will deliver to the Purchaser a
Book Entry statement representing the number of Shares to be purchased at such Closing by the Purchaser, against payment of the
Purchase Price therefor by check or wire transfer made in accordance with the Company’s instructions.

 

2.3              
Registration Rights. The Company hereby agrees to make commercially reasonable best efforts to (i) prepare and file
one or more a resale registration statements (the “Resale Registration”) with the Securities Exchange Commission (“SEC”)
promptly following the Company’s filing with the SEC of its Forms 10-Q for the quarters ended March 31, 2020, June 30, 2020
and September 30, 2020, and its Form 10-K for the year ended December 31, 2020, (ii) cause such Resale Registration to be declared
effective by the SEC as soon as reasonably practicably after the filing thereof, and (iii) cause such Resale Registration to remain
effective until such time as all of the registered shares (x) have been sold pursuant to the Resale Registration or (y) may be
sold without volume or manner-of-sale securities law restrictions and without the requirement for the Company to be in compliance
with the current public information requirements under applicable securities laws. The Resale Registration shall register all of
the Shares.

 

 

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		3.	REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE COMPANY.

 

Except as
set forth in the SEC Reports or the Disclosure Schedules, which SEC Reports and Disclosure Schedules shall be deemed a part hereof
and shall qualify any representation or otherwise made herein to the extent of the disclosure contained in the corresponding section
of the SEC Reports and Disclosure Schedules, the Company hereby makes the following representations and warranties to the Purchaser
as follows:

 

3.1              
Organization, Good Standing and Qualification. The Company is a corporation duly organized, validly existing and
in good standing under the laws of the State of Delaware. The Company has all requisite corporate power and authority to own and
operate its properties and assets, to execute and deliver this Agreement, to issue and sell the Shares, to carry out the provisions
of this Agreement, and to carry on its business as presently conducted and as presently proposed to be conducted.

 

3.2              
Authorization. All corporate action on the part of the Company, its directors and its stockholders necessary for
the authorization, execution, delivery and performance of this Agreement by the Company and
the performance of the Company’s obligations hereunder, including the issuance and delivery of the Shares, has been
taken or will be taken prior to the issuance of the Shares. This Agreement, when executed and delivered by the Company, shall constitute
valid and binding obligations of the Company enforceable in accordance with its terms, subject to laws of general application relating
to bankruptcy, insolvency, the relief of debtors and, with respect to rights to indemnity, subject to federal and state securities
laws.

 

3.3            
Capitalization. The capitalization of the Company is as set forth on
the Disclosure Schedule. Except as set forth on the Disclosure Schedule, the Company has not issued any capital stock since its
most recently filed periodic report under the Exchange Act, other than pursuant to the exercise of employee stock options under
the Company’s stock option plans, the issuance of shares of Common Stock to employees pursuant to the Company’s employee
stock purchase plans and pursuant to the conversion and/or exercise of Common Stock Equivalents outstanding as of the date of the
most recently filed periodic report under the Exchange Act. All of the outstanding shares of capital stock of the Company are duly
authorized, validly issued, fully paid and nonassessable, have been issued in compliance with all federal and state securities
laws, and none of such outstanding shares was issued in violation of any preemptive rights or similar rights to subscribe for or
purchase securities. No further approval or authorization of any stockholder, the Board of Directors or others is required for
the issuance and sale of the Shares. The Shares, when issued, paid for and delivered in accordance with the terms of this Agreement,
will be duly authorized, validly issued, fully paid and nonassessable and not subject to preemptive rights.

 

3.4              
Governmental Consents. All consents, approvals, orders, or authorizations of, or registrations, qualifications, designations,
declarations, or filings with, any governmental authority, required on the part of the Company in connection with the valid execution
and delivery of this Agreement, the offer, sale or issuance of the Shares or the consummation of any other transaction contemplated
hereby shall have been obtained and will be effective at the Closing.

 

3.5              
Compliance with Laws. To its knowledge, the Company is not in violation of any applicable statute, rule, regulation,
order or restriction of any domestic or foreign government or any instrumentality or agency thereof in respect of the conduct of
its business or the ownership of its properties, which violation of which would materially and adversely affect the business, assets,
liabilities, financial condition, operations or prospects of the Company.

 

 

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3.6              
Compliance with Other Instruments. The Company is not in violation or default of any term of the Charter or its bylaws,
or of any provision of any mortgage, indenture or contract to which it is a party and by which it is bound or of any judgment,
decree, order or writ, other than such violation(s) that would not have a material adverse effect on the Company. The execution,
delivery and performance of this Agreement, and the consummation of the transactions contemplated hereby or thereby will not result
in any such violation or be in conflict with, or constitute, with or without the passage of time and giving of notice, either a
default under any such provision, instrument, judgment, decree, order or writ or an event that results in the creation of any lien,
charge or encumbrance upon any assets of the Company or the suspension, revocation, impairment, forfeiture, or nonrenewal of any
material permit, license, authorization or approval applicable to the Company, its business or operations or any of its assets
or properties.

 

		3.7	Offering

 (a)               
Assuming the accuracy of the representations and warranties of the Purchasers contained in Section 4 hereof, the offer,
issue, and sale of the Shares are and will be exempt from the registration and prospectus delivery requirements of the Securities
Act of 1933, as amended (the “Act”), and have been registered or qualified (or are exempt from registration and qualification)
under the registration, permit, or qualification requirements of all applicable state securities laws.

 

(b)               
No “Bad Actor”
Disqualification. The Company has exercised reasonable care to determine whether any Company Covered Person (as defined below)
is subject to any of the “bad actor” disqualifications described in Rule 506(d)(1)(i) through (viii), as modified by
Rules 506(d)(2) and (d)(3), under the Securities Act (“Disqualification Events”). To the Company’s knowledge,
no Company Covered Person is subject to a Disqualification Event. The Company has complied, to the extent required, with any disclosure
obligations under Rule 506(e) under the Securities Act. For purposes of this Agreement, “Company Covered Persons”
are those persons specified in Rule 506(d)(1) under the Securities Act; provided, however, that Company Covered Persons do not
include (a) any Purchaser, or (b) any person or entity that is deemed to be an affiliated issuer of the Company solely as a result
of the relationship between the Company and any Purchaser.

 

		3.8	SEC Filings; Financial Statements.

 

(a)               
Except as set forth on the Disclosure Schedule, the Company has timely filed all forms, reports and documents (including
all exhibits) required to be filed by it with the SEC since January 1, 2019 (the “SEC Reports”). The SEC Reports (i)
were prepared in accordance with the requirements of the Act and the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), and the rules and regulations promulgated thereunder and (ii) did not at the time they were filed contain any untrue
statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements
made therein, in the light of the circumstances under which they were made, not misleading.

 

(b)               
Each of the financial statements (including, in each case, any notes thereto) contained in the SEC Reports was prepared
in accordance with United States generally accepted accounting principles (“GAAP”) applied on a consistent basis throughout
the periods indicated (except as may be indicated in the notes thereto) and the Company’s books and records, and each fairly
presented the financial position, results of operations and cash flows of the Company as at the respective dates thereof and for
the respective periods indicated therein except as otherwise noted therein (subject, in the case of unaudited statements, to normal
year-end adjustments which individually or in the aggregate did not have, and would not reasonably be expected to have, a material
adverse effect on the business, operations, assets, liabilities, financial condition or results of operations of the Company).
The books and records of the Company have been, and are being, maintained in accordance with applicable legal and accounting requirements
in all material respects.

 

 

    	3  

    	 

    

3.9              
Further Assurances. The Company agrees and covenants that at any time and from time to time it will promptly execute
and deliver to the Purchaser such further instruments and documents and take such further action as the Purchaser may reasonably
require in order to carry out the full intent and purpose of this Agreement and to comply with state or federal securities laws
or other reasonable requests that the Purchaser may require.

 

		4.	REPRESENTATIONS AND WARRANTIES OF THE PURCHASER.

 

Purchaser
hereby represents and warrants to the Company as follows (provided that such representations and warranties do not lessen or obviate
the representations and warranties of the Company set forth in this Agreement):

 

4.1              
Purchase for Own Account. Purchaser represents that it is acquiring the Shares for its own account and not with a
view towards, or for resale in connection with, a public sale or distribution thereof in violation of applicable securities laws,
except pursuant to sales registered or exempted under the Act; notwithstanding the forgoing, by making the representations
herein, Purchaser does not agree, or make any representation or warranty, to hold any of the Shares for any minimum or other specific
term and reserves the right to dispose of the Shares at any time in accordance with or pursuant to a registration statement or
an applicable exemption under the Act. Purchaser does not presently have any agreement or understanding, directly or indirectly,
with any Person to distribute any of the Shares in violation of applicable securities laws.

 

4.2              
Information and Sophistication. Purchaser hereby: (i) acknowledges that it has received all the information it has
requested from the Company and it considers necessary or appropriate for deciding whether to acquire the Shares, (ii) represents
that it has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the
offering of the Shares and to obtain any additional information necessary to verify the accuracy of the information given the Purchaser
and (iii) further represents that it has such knowledge and experience in financial and business matters that it is capable of
evaluating the merits and risks of this investment.

 

4.3              
Ability to Bear Economic Risk. Purchaser acknowledges that investment in the Shares involves a high degree of risk,
and represents that it is able, without materially impairing its financial condition, to hold the Shares for an indefinite period
of time and to suffer a complete loss of its investment.

 

4.4              
Rule 144. Purchaser acknowledges and agrees that the Shares are “restricted securities” as defined in
Rule 144 promulgated under the Act as in effect from time to time and must be held indefinitely unless they are subsequently registered
under the Act or an exemption from such registration is available. Purchaser has been advised or is aware of the provisions of
Rule 144, which permits limited resale of shares purchased in a private placement subject to the satisfaction of certain conditions.
Purchaser acknowledges that the Company has no obligation to register the Shares for resale.

 

4.5              
Legends. Purchaser acknowledges and agrees that the Shares may bear one or all of the following legends:

 

(a)               
“THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH
SALE OR DISTRIBUTION MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION

 

 

    	4  

    	 

    

OF COUNSEL IN A FORM SATISFACTORY TO THE COMPANY
THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933 AS AMENDED.”

 

(b)               
Any legend required by the state securities laws of any U.S. state to the extent such laws are applicable to the shares
represented by the certificate so legended.

 

4.6              
Accredited Investor Status. At the time Purchaser was offered the Shares, it was, and as of the date hereof it is,
either (i) an “accredited investor” as defined in Rule 501(a)(1), (a)(2), (a)(3), (a)(7) or (a)(8) under the Securities
Act or (ii) a “qualified institutional buyer” as defined in Rule 144A(a) under the Securities Act.

 

4.7              
No “Bad Actor” Disqualification. Purchaser represents and warrants that neither (A) the Purchaser nor
(B) any entity that controls the Purchaser or is under the control of, or under common control with, the Purchaser, is subject
to any Disqualification Event, except for Disqualification Events covered by Rule 506(d)(2)(ii) or (iii) or (d)(3) under the Securities
Act and disclosed in writing in reasonable detail to the Company. The Purchaser represents that the Purchaser has exercised reasonable
care to determine the accuracy of the representation made by the Purchaser in this paragraph, and agrees to notify the Company
if the Purchaser becomes aware of any fact that makes the representation given by the Purchaser hereunder inaccurate.

 

4.8              
Residence. If Purchaser is an individual, then Purchaser resides in
the jurisdiction identified in the address of Purchaser set forth on the executed counterpart signature page attached hereto. If
Purchaser is a partnership, corporation, limited partnership, limited liability company or other entity, then the office or offices
of Purchaser in which its investment decision was made is located at the address or addresses of Purchaser set forth on the executed
counterpart signature page attached hereto.

 

4.9              
Further Assurances. Purchaser agrees and covenants that at any time and from time to time it will promptly execute
and deliver to the Company such further instruments and documents and take such further action as the Company may reasonably require
in order to carry out the full intent and purpose of this Agreement and to comply with state or federal securities laws or other
regulatory approvals.

 

		5.	CONDITIONS TO CLOSING.

 

5.1              
Conditions to Purchasers’ Obligations at the Closing. Purchaser’s obligations to purchase the Shares
at the Closing are subject to the satisfaction, at or prior to the Closing Date, of the following conditions:

 

(a)               
Representations and Warranties True; Performance of Obligations. The representations and warranties made by the Company
in Section 3 hereof shall be true and correct in all material respects as of the Closing with the same force and effect as if they
had been made as of the Closing, and the Company shall have performed all obligations and conditions herein required to be performed
or observed by it on or prior to the Closing.

 

(b)               
Consents, Permits, and Waivers. The Company shall have obtained any and all consents, permits and waivers necessary
or appropriate for consummation of the transactions contemplated by the Agreement, except for such as may be properly obtained
subsequent to the Closing.

 

(c)               
Proceedings and Documents. All corporate and other proceedings in connection with the transactions contemplated at
the Closing hereby and all documents and instruments incident to such transactions shall be reasonably satisfactory in substance
and form to Purchasers, and Purchasers shall

 

 

    	5  

    	 

    

have received all such counterpart originals or
certified or other copies of such documents as they may reasonably request.

 

5.2              
Conditions to Obligations of the Company. The Company’s obligation to issue and sell the Shares
at the Closing is subject to the satisfaction, at or prior to the Closing Date, of the following conditions:

 

(a)               
Representations and Warranties True. The representations and warranties in Section 4 made by the Purchaser acquiring
Shares hereof shall be true and correct in all material respects at the date of the Closing, with the same force and effect as
if they had been made on and as of said date.

 

(b)               
Consents, Permits, and Waivers. The Company shall have obtained any and all consents, permits and waivers necessary
or appropriate for consummation of the transactions contemplated by this Agreement, except for such as may be properly obtained
subsequent to the Closing.

 

		6.	MISCELLANEOUS.

 

6.1              
Use of Proceeds. The Company agrees that the proceeds of the sale of the Shares will be used for working capital
and general corporate purposes of the Company. The Company shall not use any such proceeds to make any distributions on, or payments
in respect of, any outstanding equity securities of the Company.

 

6.2              
Binding Agreement. The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the
respective successors and assigns of the parties. Nothing in this Agreement, expressed or implied, is intended to confer upon any
third party any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided
in this Agreement.

 

6.3              
Governing Law. This Agreement shall be governed by and construed under the laws of the State of Delaware, without
giving effect to conflicts of laws principles.

 

6.4              
Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument.

 

6.5              
Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to
be considered in construing or interpreting this Agreement.

 

6.6              
Notices. All notices required or permitted hereunder shall be in writing
and shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed telex,
electronic mail or facsimile if sent during normal business hours of the recipient, if not, then on the next business
day, (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid,
or (d) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification
of receipt. All communications shall be sent to the Company and to the Purchaser at the address set forth on the executed counterpart
signature pages attached hereto or at such other address as the Company or a Purchaser may designate by ten (10) days advance written
notice to the other parties hereto.

 

6.7              
Modification; Waiver. No modification or waiver of any provision of this Agreement or consent to departure therefrom
shall be effective unless in writing and approved by the Company and the Purchaser. Any such amendment or modification shall be
binding on all parties hereto.

 

6.8              
Expenses. The Company and the Purchaser shall each bear its respective
expenses and legal fees incurred with respect to this Agreement and the transactions contemplated herein.

 

 

    	6  

    	 

    

6.9              
Delays or Omissions. It is agreed that no delay or omission to exercise any right, power or remedy accruing to the
Purchaser, upon any breach or default of the Company under this Agreement shall impair any such right, power or remedy, nor shall
it be construed to be a waiver of any such breach or default, or any acquiescence therein, or of or in any similar breach or default
thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore
or thereafter occurring. It is further agreed that any waiver, permit, consent or
approval of any kind or character by the Purchaser of any breach or default under this Agreement, or any waiver by the Purchaser
of any provisions or conditions of this Agreement must be in writing and shall be effective only to the extent specifically set
forth in writing and that all remedies, either under this Agreement, or by law or otherwise afforded to the Purchaser, shall be
cumulative and not alternative.

 

6.10          
Entire Agreement. This Agreement constitutes the full and entire understanding and agreement between the parties
with regard to the subjects hereof and no party shall be liable or bound to any other party in any manner by any representations,
warranties, covenants and agreements except as specifically set forth herein.

 

[Remainder of page intentionally
left blank. Signature page follows.]

 

 

 

    	7  

    	 

    

IN WITNESS WHEREOF, the parties
have executed this STOCK PURCHASE AGREEMENT as of the date first written above.

 

ASCENT SOLAR TECHNOLOGIES, INC.

 

 

By: /s/ Victor Lee        

Name: Victor Lee

Title: President & CEO

 

12300 Grant Street

Thornton, CO 80241

Email: [***]

 

 

 

BAYBRIDGE CAPITAL FUND, LP

 

By:  /s/ David E. Price          

Name: David E. Price

Title: Authorized Signatory

 

Address:#3 Bethesda Metro Center Suite 700

Bethesda, Md 20814

[***]

 

 

 

    	8

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