Ascent Solar Technologies Inc. issued a $150,000 nonconvertible promissory note to Baybridge Capital Fund LP.
The company received $110,000 of gross proceeds from the offering of the note, which matures on March 9, 2020, and bears an annual interest rate of 12%, according to a Sept. 13 Form 8-K filing.
The interest rate increases to 18% in the event of a default under the note.
