CrayoNano AS announced a private placement of common shares for gross proceeds ranging approximately NOK 100,000,000 to NOK 150,000,000 on April 11, 2023. The comapny entered into a term sheet with new investor European Innovation Council (EIC) Fund to subscribe for NOK 57,745,000 subject to certain terms and conditions being fulfilled. The transaction will include participation from domestic and international investors.

The shares will have a lock-up period of 12 month, subject to customary exemptions. As part of the transaction, European Innovation Council (EIC) Fund will join as a board observer. The minimum investment accepted from any investor will be NOK 1,154,900.