06.19.15
Thin Film Electronics ASA (Thinfilm) announced a private placement, exempt from registration under the US Securities Act of 1933, in the company in which several US funds have subscribed for 34,034,653 shares in the company, at a share price of USD 0.64640 (equalling NOK 5.01 per share) for a total investment of USD $22 million. Upon completion of the private placement, the investors will hold 6.1% of the shares in the company.
“The market response to our launch of NFC OpenSense product has been exceptionally strong,” said Davor Sutija, CEO, Thinfilm. “This investment will allow significant expansion of our printed logic production in order to meet expected demand for both NFC OpenSense and our EAS products, from current and prospective customers, including Diageo, who showcased the Connected ‘Smart Bottle’ together with Thinfilm in March 2015. It is an opportunity to significantly scale the company.”
Proceeds from the private placement will fund an expansion of Thinfilm’s PDPS (printed dopant polysilicon) manufacturing at its facility in San Jose, CA. The expansion is slated to increase the facility’s capacity for production of EAS and NFC OpenSense tags significantly.
NFC OpenSense tags are thin, flexible tags that can detect whether a product is factory-sealed or has been opened. The tags wirelessly communicate that information, with a globally unique product ID, with the tap to an NFC-enabled smartphone or device. Leading brands have engaged Thinfilm in demonstrating applications of the tags in mobile marketing, product security, and supply-chain tracking.
Thinfilm’s EAS product is in global roll-out with one of the largest fast fashion retailers, in conjunction with partner Nedap Retail.
“Leading US investors are now significant shareholders in Thinfilm,” Sutija noted. “This is a key milestone for the company and follows our listing on the OTCQX marketplace with Cowen and Company, LLC as our Principal American Liaison. We believe growing the international investor base will benefit the company and our shareholders as we scale to deliver our vision for the Internet of Everything.”
“The market response to our launch of NFC OpenSense product has been exceptionally strong,” said Davor Sutija, CEO, Thinfilm. “This investment will allow significant expansion of our printed logic production in order to meet expected demand for both NFC OpenSense and our EAS products, from current and prospective customers, including Diageo, who showcased the Connected ‘Smart Bottle’ together with Thinfilm in March 2015. It is an opportunity to significantly scale the company.”
Proceeds from the private placement will fund an expansion of Thinfilm’s PDPS (printed dopant polysilicon) manufacturing at its facility in San Jose, CA. The expansion is slated to increase the facility’s capacity for production of EAS and NFC OpenSense tags significantly.
NFC OpenSense tags are thin, flexible tags that can detect whether a product is factory-sealed or has been opened. The tags wirelessly communicate that information, with a globally unique product ID, with the tap to an NFC-enabled smartphone or device. Leading brands have engaged Thinfilm in demonstrating applications of the tags in mobile marketing, product security, and supply-chain tracking.
Thinfilm’s EAS product is in global roll-out with one of the largest fast fashion retailers, in conjunction with partner Nedap Retail.
“Leading US investors are now significant shareholders in Thinfilm,” Sutija noted. “This is a key milestone for the company and follows our listing on the OTCQX marketplace with Cowen and Company, LLC as our Principal American Liaison. We believe growing the international investor base will benefit the company and our shareholders as we scale to deliver our vision for the Internet of Everything.”