UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
(Amendment No. 6)
Under the Securities Exchange Act of 1934
Ascent
Solar Technologies, Inc.
(Name of Issuer)
Common
Stock, Par Value $0.0001
(Title of Class of Securities)
043635606
(CUSIP Number)
BD 1 Investment Holding, LLC
1675 South State Street, Suite B
Dover, DE 19901
310-266-3528
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
March 17, 2023
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 1(f) or 1(g), check the following box. [ ]
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
(Continued on following pages)
(Page 1 of 8 pages)
SCHEDULE 13D
| CUSIP No. 043635606 | Page 2 of 8 pages |
| 1 | NAMES OF REPORTING PERSONS. BD 1 INVESTMENT HOLDING, LLC |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X] (b) [ ] |
| 3 | SEC USE ONLY |
| 4 | SOURCE OF FUNDS (see instructions) NOT APPLICABLE |
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ] |
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE, USA |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
7 | SOLE VOTING POWER 12,433,334 Common Shares (See Item 5) |
| 8 | SHARED VOTING POWER 0 Common Shares | |
| 9 | SOLE DISPOSITIVE POWER 12,433,334 Common Shares (See Item 5) | |
| 10 | SHARED DISPOSITIVE POWER 0 Common Shares |
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PARTY 12,433,334 Common Shares |
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] |
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 33.67%(1) |
| 14 | TYPE OF REPORTING PERSON* CO |
(1) Percentage calculated based on 36,928,917 Common Shares issued and outstanding as of March 10, 2023 reported in the Issuer’s Annual Report on Form 10-K filed on March 10, 2023.
SCHEDULE 13D
| CUSIP No. 043635606 | Page 3 of 8 pages |
| 1 | NAMES OF REPORTING PERSONS. JOHANNES KUHN |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X] (b) [_] |
| 3 | SEC USE ONLY |
| 4 | SOURCE OF FUNDS (see instructions) NOT APPLICABLE |
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ] |
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION GERMANY |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
7 | SOLE VOTING POWER 12,433,334 Common Shares (1) (See Item 5) |
| 8 | SHARED VOTING POWER 0 Common Shares | |
| 9 | SOLE DISPOSITIVE POWER 12,433,334 Common Shares (1) (See Item 5) | |
| 10 | SHARED DISPOSITIVE POWER 0 Common Shares |
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PARTY 12,433,334 Common Shares (1) |
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] |
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 33.67%(2) |
| 14 | TYPE OF REPORTING PERSON* IN |
(1) Mr. Johannes Kuhn is the 100% beneficial owner of BD1.
(2) Percentage calculated based on 36,928,917 Common Shares issued and outstanding as of March 10, 2023 reported in the Issuer’s Annual Report on Form 10-K filed on March 10, 2023.
SCHEDULE 13D
| CUSIP No. 043635606 | Page 4 of 8 pages |
| 1 | NAMES OF REPORTING PERSONS. UTE KUHN |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X] (b) [_] |
| 3 | SEC USE ONLY |
| 4 | SOURCE OF FUNDS (see instructions) NOT APPLICABLE |
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ] |
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION GERMANY |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
7 | SOLE VOTING POWER 12,433,334 Common Shares(1) (See Item 5) |
| 8 | SHARED VOTING POWER 0 Common Shares | |
| 9 | SOLE DISPOSITIVE POWER 12,433,334 Common Shares(1) (See Item 5) | |
| 10 | SHARED DISPOSITIVE POWER 0 Common Shares |
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PARTY 12,433,334 Common Shares(1) |
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] |
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 33.67%(2) |
| 14 | TYPE OF REPORTING PERSON* IN |
(1) Mrs. Ute Kuhn is the 100% beneficial owner of BD1.
(2) Percentage calculated based on 36,928,917 Common Shares issued and outstanding as of March 10, 2023 reported in the Issuer’s Annual Report on Form 10-K filed on March 10, 2023.
SCHEDULE 13D
| CUSIP No. 043635606 | Page 5 of 8 pages |
Background. The undersigned hereby file this Amendment No. 6 (the “Amendment”) to the Schedule 13D filed by BD 1 Investment Holding, LLC, a Delaware limited liability company (“BD1”), Mr. Johannes Kuhn, a citizen of Germany, and Mrs. Ute Kuhn, a citizen of Germany and the spouse of Mr. Kuhn (together, the “Reporting Persons”), on December 29, 2020, as amended by Amendment No. 1 to the Schedule 13D filed by the Reporting Persons on March 3, 2021, Amendment No. 2 to the Schedule 13D filed by the Reporting Persons on August 6, 2021, as amended by Amendment No. 3 to the Schedule 13D filed by the Reporting Persons on August 23, 2021, as amended by Amendment No. 4 to the Schedule 13D filed by the Reporting Persons on March 2, 2022, as amended by Amendment No. 5 to the Schedule 13D filed by the Reporting Persons on February 6, 2023 (“Schedule 13D”). Only those Items amended below are reported herein.
| Item 1. | Security and Issuer. |
This Schedule 13D is filed by the Reporting Persons and relates to shares of the common stock, par value $0.0001 per share (“Common Shares”), CUSIP 043635606, of Ascent Solar Technologies, Inc., a Delaware corporation (“Issuer”). The principal executive offices of the Issuer are located at 12300 Grant Street, Thornton, Colorado 80241. The Issuer’s Common Shares are listed on Nasdaq under the symbol “ASTI”.
| Item 3. | Source and Amount of Funds or Other Consideration. |
Item 3 is amended and restated in its entirety as follows as of the date of this Amendment:
On March 17, 2023, BD1 transferred of 3,000,000 shares of common stock of the Issuer to make a payment under an existing promissory note. The parties to the existing promissory note agreed to value the transferred shares at $0.60 per share.
| Item 4. | Purpose of Transaction. |
Item 4 is amended and restated in its entirety as follows as of the date of this Amendment:
The information set forth in or incorporated by reference in Item 3 of this Schedule 13D is incorporated by reference in its entirety into this Item 4. Additionally, undersigned understands that the aggregate number of shares of Common Stock outstanding as of March 10, 2023 was 36,928,917, which is an increase from the 33,930,812 shares of Common Stock that were outstanding on December 19, 2022 the date that the undersigned filed Amendment No. 5 to Schedule 13D. As a result of such increase in the aggregate number of outstanding shares of Common Stock, the aggregate percentage of outstanding shares of Common Stock that the undersigned may be deemed to beneficially own decreased.
As of the date of this Schedule 13D and except as set forth herein, the Reporting Persons have no plans, proposals or negotiations that relate to or would result in any of the matters set forth within (a) through (j) of Item 4 of Schedule 13D. The Reporting Persons intend to review their investment in the Issuer on a continuing basis and, depending on various factors including, without limitation, the Issuer’s financial position, the price levels of the outstanding Common Shares, conditions in the securities market and general economic and industry conditions, the Reporting Persons may, in the future, take such actions with respect to the Common Shares owned by them including, without limitation, engaging in communications with management and the board of the Issuer, engaging in discussions with stockholders of the Issuer or other third parties about the Issuer and the Reporting Persons’ investment, making recommendations or proposals to the Issuer concerning changes to the capitalization, ownership structure, board structure (including board composition), purchasing additional Common Shares, selling some or all of their Common Shares, or taking any other action with respect to the Issuer or any of its securities in any manner permitted by law or otherwise changing its intention with respect to any and all matters referred to in paragraphs (a) through (j) of Item 4.
SCHEDULE 13D
| CUSIP No. 043635606 | Page 6 of 8 pages |
| Item 5. | Interest in Securities of the Issuer. |
Item 5 is amended and restated in its entirety as follows as of the date of this Amendment:
(a)-(b) The following information with respect to the ownership of Common Shares by the Reporting Persons filing this statement on Schedule 13D/A is provided as of the date of this filing:
| Reporting Persons | Common Shares Held Directly | Shared Voting Power | Shared Dispositive Power | Beneficial Ownership | Percentage Owned(1) | |||||||||||||||
| BD 1 Investment Holding, LLC | 12,433,334 | 0 | 0 | 12,433,334 | 33.67 | % | ||||||||||||||
(1) Percentage calculated based on 36,928,917 Common Shares issued and outstanding as of March 10, 2023, as reported in the Issuer’s Annual Report on Form 10-K filed on March 10, 2023.
(c) Except as set forth below, to the knowledge of the Reporting Persons with respect to the persons named in response to Item 5(a)-(b), none of the persons named in response to Item 5(a)-(b) has effected any transactions in the Common Shares during the past 60 days.
On March 17, 2023, BD1 disposed of 3,000,000 shares of common stock of the Issuer, to make a payment under an existing promissory note. The parties to the existing promissory note agreed to value the transferred shares at $0.60 per share
(d) Except as disclosed in this Schedule 13D/A, no person is known to the Reporting Persons to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, any Common Shares except for Bernd Förtsch, Crowdex Investment, LLC and TubeSolar AG.
(e) Not applicable.
SCHEDULE 13D
| CUSIP No. 043635606 | Page 7 of 8 pages |
| Item 7. | Materials to be Filed as Exhibits. |
Item 7 is amended and restated in its entirety as follows as of the date of this Amendment:
Exhibit 99.1 Joint Filing Agreement among the Reporting Persons(1)
Exhibit 99.3 Power of Attorney for Johannes Kuhn(3)
Exhibit 99.4 Power of Attorney for Ute Kuhn(3)
Exhibit 99.5 Power of Attorney for BD1 Investment Holding LLC(3)
(1) Previously filed with the Schedule 13D/A on March 3, 2021 and incorporated by reference
(2) Previously filed with the Schedule 13D on December 29, 2020 and incorporated by reference
(3) Filed herewith.
SCHEDULE 13D
| CUSIP No. 043635606 | Page 8 of 8 pages |
SIGNATURE
After reasonable inquiry, to the best of my knowledge and belief, I certify that the information set forth in this Schedule 13D/A is true, complete and correct.
| Date: March 29, 2023 | BD 1 INVESTMENT HOLDING, LLC | |
| By: | /s/ James H. Carroll | |
Name: Title: |
James H. Carroll Attorney-in fact | |
| Date: March 29, 2023 | /s/ James H. Carroll, attorney-in-fact |
| Johannes Kuhn |
| Date: March 29, 2023 | /s/ James H. Carroll, attorney-in-fact |
| Ute Kuhn |
Exhibit 99.3
POWER OF ATTORNEY
Know all by these presents, that the undersigned hereby constitutes and appoints James H. Carroll, individually, as the undersigned’s true and lawful attorney-in-fact to:
(1) execute for and on behalf of the undersigned, in the undersigned’s capacity as a beneficial owner of securities of Ascent Solar Technologies, Inc. (the “Company”), (i) all reports on Forms 3, 4 and 5 and any other forms required to be filed in accordance with Section 16(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and the rules promulgated thereunder (a “Section 16 Form”), and (ii) all forms and schedules in accordance with Section 13(d) of the Exchange Act and the rules promulgated thereunder, including all amendments thereto (a “Section 13 Schedule”, and, together with Section 16 Forms, the “Forms and Schedules”);
(2) do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete and execute any such Forms and Schedules, complete and execute any amendment or amendments thereto, and timely file such Forms and Schedules with the United States Securities and Exchange Commission and any stock exchange or similar authority; and
(3) take any other action of any type whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit to, in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as he may approve in his or discretion.
The undersigned hereby grants to such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that each such attorney-in-fact, or his or her substitute or substitutes, shall lawfully do or cause to be done by virtue of this Power of Attorney and the rights and powers herein granted. The undersigned acknowledges that each such attorney-in-fact is serving in such capacity at the request of the undersigned, and is not assuming any of the undersigned’s responsibilities to comply with Section 13 or Section 16 of the Exchange Act.
The Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file any Forms and Schedules with respect to the undersigned’s holdings of and transactions in securities issued by the Company, unless earlier revoked by the undersigned in a signed writing delivered to each such attorney-in-fact.
IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of this 20th day of March 2023.
By: /s/ Johannes Kuhn
Johannes Kuhn
Exhibit 99.4
POWER OF ATTORNEY
Know all by these presents, that the undersigned hereby constitutes and appoints James H. Carroll, individually, as the undersigned’s true and lawful attorney-in-fact to:
(1) execute for and on behalf of the undersigned, in the undersigned’s capacity as a beneficial owner of securities of Ascent Solar Technologies, Inc. (the “Company”), (i) all reports on Forms 3, 4 and 5 and any other forms required to be filed in accordance with Section 16(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and the rules promulgated thereunder (a “Section 16 Form”), and (ii) all forms and schedules in accordance with Section 13(d) of the Exchange Act and the rules promulgated thereunder, including all amendments thereto (a “Section 13 Schedule”, and, together with Section 16 Forms, the “Forms and Schedules”);
(2) do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete and execute any such Forms and Schedules, complete and execute any amendment or amendments thereto, and timely file such Forms and Schedules with the United States Securities and Exchange Commission and any stock exchange or similar authority; and
(3) take any other action of any type whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit to, in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as he may approve in his or discretion.
The undersigned hereby grants to such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that each such attorney-in-fact, or his or her substitute or substitutes, shall lawfully do or cause to be done by virtue of this Power of Attorney and the rights and powers herein granted. The undersigned acknowledges that each such attorney-in-fact is serving in such capacity at the request of the undersigned, and is not assuming any of the undersigned’s responsibilities to comply with Section 13 or Section 16 of the Exchange Act.
The Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file any Forms and Schedules with respect to the undersigned’s holdings of and transactions in securities issued by the Company, unless earlier revoked by the undersigned in a signed writing delivered to each such attorney-in-fact.
IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of this 20th day of March 2023.
By: /s/ Ute Kuhn
Ute Kuhn
Exhibit 99.5
POWER OF ATTORNEY
Know all by these presents, that the undersigned hereby constitutes and appoints James H. Carroll, individually, as the undersigned’s true and lawful attorney-in-fact to:
(1) execute for and on behalf of the undersigned, in the undersigned’s capacity as a beneficial owner of securities of Ascent Solar Technologies, Inc. (the “Company”), (i) all reports on Forms 3, 4 and 5 and any other forms required to be filed in accordance with Section 16(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and the rules promulgated thereunder (a “Section 16 Form”), and (ii) all forms and schedules in accordance with Section 13(d) of the Exchange Act and the rules promulgated thereunder, including all amendments thereto (a “Section 13 Schedule”, and, together with Section 16 Forms, the “Forms and Schedules”);
(2) do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete and execute any such Forms and Schedules, complete and execute any amendment or amendments thereto, and timely file such Forms and Schedules with the United States Securities and Exchange Commission and any stock exchange or similar authority; and
(3) take any other action of any type whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit to, in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as he may approve in his or discretion.
The undersigned hereby grants to such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that each such attorney-in-fact, or his or her substitute or substitutes, shall lawfully do or cause to be done by virtue of this Power of Attorney and the rights and powers herein granted. The undersigned acknowledges that each such attorney-in-fact is serving in such capacity at the request of the undersigned, and is not assuming any of the undersigned’s responsibilities to comply with Section 13 or Section 16 of the Exchange Act.
The Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file any Forms and Schedules with respect to the undersigned’s holdings of and transactions in securities issued by the Company, unless earlier revoked by the undersigned in a signed writing delivered to each such attorney-in-fact.
IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of this 20th day of March 2023.
BD1 Investment Holding, LLC
By: /s/ Todd Steadman
Todd Steadman
Manager