Woodford invests 42M US-Dollars in Thin Film Electronics
Thin Film Electronics, a global leader in printed electronics and smart systems based in Oslo, Norway, has announced that Woodford Investment Management has agreed to acquire 120M new shares in the company in a private placement totaling 42M US-Dollars. Upon completion of the transaction, Woodford will hold 17.8% of the shares in Thinfilm.
The issuance of shares and warrants is subject to the approval of an extraordinary general meeting in Thinfilm. It will be called for as soon as practical and will take place on or about 15 March 2016. Completion of the private placement is conditional upon the meeting’s approving of the transaction.
“Woodford Investment Management is one of the UK’s leading fund managers and its founder has a history of identifying compelling opportunities,” said Davor Sutija, CEO of Thinfilm. “We believe this investment is a strong endorsement of Thinfilm’s unique technology and its prospects for future success.”