Flash note: US$23m investment by Norwegian financial group
Norwegian financial group Ferd has agreed to invest $23m at a subscription price of NOK4.00 for 7.3% of Thinfilm’s shares. It has also been granted three-year options to acquire a further 6.1% after 12 months at an exercise price of NOK4.80, which would raise an additional $23m. If approved at an upcoming EGM, this placing combined with the exercise of options should provide Thinfilm with the cash to complete development of advanced NFC-enabled systems and give it sufficient resources to reach profitability. It is an encouraging sign that another significant investment company has the confidence in Thinfilm to take a substantial holding.Thin Film Electronics is an electronics group based in Norway. Co. is engaged in the development of printed electronics. Co. commercializes printed rewritable memory and creates printed system products that include memory, sensing, display and wireless communication. Co.'s products include memory labels, storing digital data on a thin, rewritable label; brand protection solutions, consisting of adhesive labels that generate a distinct forensic electrical signature; sensor labels, which sense information and store data; display labels, low cost display media to communicate the information stored in the ThinFilm Memory; and NFC Smart Labels.
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