SEC Contract Filing

Filing Date: 2017-12-12

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex101-seriesjexchangeagree.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<div><a name="s84160B402E8A729D77E34BFBAD09B85F"></a></div><div></div><div><br></div><div style="line-height:138%;padding-bottom:13px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SECURITIES EXCHANGE AGREEMENT</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">THIS SECURITIES EXCHANGE AGREEMENT (the &#8220;Agreement&#8221;) is made as of the 6</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">th</sup></font><font style="font-family:inherit;font-size:12pt;">&#32;day of December, 2017 (the &#8220;Effective Date&#8221;) by and among Ascent Solar Technologies, Inc., a Delaware corporation (the &#8220;Company&#8221;), and BayBridge Capital Fund LP (the &#8220;Holder&#8221;).</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The Holder hereby agrees to surrender its 675 shares of existing and currently outstanding Series J Preferred Stock as listed below (principal amount plus accrued dividends equal to </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">$755,416.67</font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;">as of December 6, 2017) issued by Ascent Solar Technologies, Inc., a Delaware corporation (the &#8220;Company&#8221;) (the &#8220;Preferred Stock&#8221;) in exchange for a Convertible Promissory Note (the &#8220;Note&#8221;) in the amount of </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">$840,000.00</font><font style="font-family:inherit;font-size:12pt;">&#32;to be newly issued by the Company pursuant to this Agreement. </font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The parties to this Agreement intend that the transactions contemplated by this Agreement are such that the offer and exchange of securities by the Company under this Agreement will be exempt from registration under applicable United States securities laws as a result of this exchange offer being undertaken pursuant to Sections 3(a)(9) and 4(a)(2) of the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;).</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">On the Closing Date, the Company will issue and deliver (or cause to be issued and delivered) Note to the Purchaser. In exchange, the Purchaser will surrender to the Company the Preferred Stock listed below. The Note issued in exchange for the Preferred Stock shall generally be in the form attached hereto as Exhibit A (as appropriate) and otherwise shall be in a form mutually acceptable to the parties. </font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="6"></td></tr><tr><td style="width:20%;"></td><td style="width:14%;"></td><td style="width:18%;"></td><td style="width:16%;"></td><td style="width:16%;"></td><td style="width:16%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:16px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;"># of Shares</font></div></td><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Outs