The Ascension began its life as a system defence vessel for New Alderaan around 5 ABY. It was lost during its first mission; to hunt down a smuggler and pirate named Ede Glentham. Unprepared and poorly trained, the crew of the Ascension was overwhelmed, and the ship captured. Glentham took command of the ship, discarding her old ship.
Soon after, Glentham had a run-in with Noel Silvermoon on Nar Shaddaa. The two pirates decided to join forces.
In 8 ABY, a malfunction in the Ascension's engines forced the vessel into the huge radioactive gascloud, dubbed 'The Cloud of Darkness'. The crew had expected to be destroyed by the ghost ships said to haunt the cloud, but instead they discovered a new system, the Oloth system. Hurrying back out, the ship linked up with The Abyss. When Silvermoon heard of it, he decided to create the group's base there.
The Ascension is still commanded by Ede Glentham.