Thin Film Electronics (Thinfilm) has successfully completed a placement of 23.3 million new shares.

The gross proceeds from the placement closed October 1 amount to NOK 18.7 million. Including the two proposed warrants issued to each share subscribed, the potential gross proceeds are NOK 62.9 million.

Thinfilm offered up to 23,314,000 new shares and received subscriptions for 81.2 million shares; the placement was subscribed by 3.5 times.

Thinfilm is the first in the world to produce polymer memories in large scale using roll-to-roll printing. While concentrating on toys and games applications, Thinfilm is also pursuing the next generation of printed electronics products, combining Thinfilm’s printed memory with other printed technologies, such as transistors, sensors and displays.

Thinfilm is listed on the Oslo Axess marketplace at the Oslo Børs (Oslo Stock Exchange).