Brief: Thin Film Raises NOK 50 Million In Private Placement

Ensurge Micropower ASA

23/07/2020 06:06

July 23 (Reuters) - Thin Film Electronics ASA  THIN.OL :
    * REG-THIN FILM ELECTRONICS ASA HAS SECURED ADDITIONAL
FUNDING BY
WAY OF A COMMITTED PRIVATE PLACEMENT OF SHARES RAISING NOK 50
MILLION
    * REG-THIN FILM ELECTRONICS ASA HAS SECURED ADDITIONAL
FUNDING BY
WAY OF A COMMITTED PRIVATE PLACEMENT OF SHARES RAISING NOK 50
MILLION
    * THIN FILM ELECTRONICS ASA - HAS SECURED ADDITIONAL FUNDING
OF
NOK 50 MILLION BY A PRIVATE PLACEMENT OF SHARES TO FUND NEXT
PHASE OF COMPANY'S DEVELOPMENT AND COMMERCIALIZATION STRATEGY
    * PRIVATE PLACEMENT IS SUBJECT TO SHAREHOLDER APPROVAL
    * OFFERED AND COMMITTED SUBSCRIPTION PRICE PER SHARE IS NOK
0.15
    * GIVEN FINANCIAL SITUATION OF COMPANY, BOARD WILL RECOMMEND
TO
COMPANY'S SHAREHOLDERS THAT OFFER BE APPROVED
    * EGM IS EXPECTED TO BE HELD ON OR ABOUT 17 AUGUST 2020
    * OFFER INVOLVES ISSUANCE OF 333,866,666 NEW SHARES AT A
SUBSCRIPTION PRICE PER SHARE OF NOK 0.15
    * BOARD WILL ALSO PROPOSE TO UPCOMING EGM THAT A SUBSEQUENT
OFFERING IS CARRIED OUT AT A SUBSCRIPTION PRICE PER SHARE EQUAL
TO SUBSCRIPTION PRICE IN PRIVATE PLACEMENT
    * MAXIMUM AMOUNT OF SUBSEQUENT OFFERING WOULD BE NOK 10
MILLION

Source text for Eikon:  ID:nGNE9xjffY 
Further company coverage:  THIN.OL 

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