Oslo, 29 August 2020
Reference is made to the stock exchange notice published by Thin Film Electronics ASA (the "Company" or "Thinfilm") on 23 July 2020 regarding the successful completion of a private placement raising approximately NOK 50 million (the “Private Placement”) through the allocation of 333,866,666 new shares in the Company, each with a nominal value of NOK 0.11, at a subscription price per share of NOK 0.15. Further reference is made to the Extraordinary General Meeting held 19 August 2020 approving the Private Placement, and a subsequent repair offering raising up to approximately NOK 10 million through the offering of up to 66,666,666 shares (the “Offer Shares”) on similar terms as the Private Placement (the “Subsequent Offering”). The Extraordinary General Meeting also approved the issuance of one warrant for every share subscribed for and allocated to a subscriber in the Private Placement and Subsequent Offering (“Warrant C”), such Warrant C having an exercise price of NOK 0.25 per share and being exercisable at any time from 31 March until 30 June 2021.
The Financial Supervisory Authority of Norway has approved the Prospectus, which has been prepared by the Company for the listing on Oslo Børs of the 333,866,666 new shares issued in the Company in the Private Placement and the offer and listing of up to 66,666,666 Offer Shares in the Subsequent Offering, for a subscription price per Offer Share of NOK 0.15.
The Prospectus is attached hereto and is available at https://thinfilmsystems.com/investor-relations/share-information/prospectus/ . Printed copies of the Prospectus may be obtained free of charge at the offices of the Company's law firm Advokatfirmaet Ræder AS. As a result of the above, the subscription period for the Subsequent Offering starts on 1 September 2020 and expires on 15 September 2020 at 16:30 CET. Each Eligible Shareholder has been granted 0.337792737987746 transferable subscription rights ("Subscription Rights") for every share owned in the Company as of the Record Date. Each Subscription Right gives the shareholder the preferential right to subscribe for and be allocated one (1) Offer Share in the Subsequent Offering. A right to subscribe for a fraction of a share shall be rounded down to the nearest whole share. Oversubscriptions and subscriptions without Subscription Rights will be allowed, however, there can be no assurances that Offer Shares will be allocated based on such subscriptions. Subscription Rights not used to subscribe for Offer Shares during the subscription period will have no value after the end of the subscription period and will lapse without compensation to the holder.
The Subscription Rights, Offer Shares and Warrants C have not been registered, and will not be registered, under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered, sold, taken up, exercised, resold, delivered or transferred, directly or indirectly, within the United States, except pursuant to an applicable exemption from the registration requirements of the U.S. Securities Act and in compliance with the securities laws of any state or other jurisdiction of the United States. The Subscription Rights, Offer Shares and Warrants have not been and will not be registered under the applicable securities laws of Australia, Canada or Japan and may not be offered, sold, taken up, exercised, resold, delivered or transferred, directly or indirectly, in or into Australia, Canada or Japan, except pursuant to an applicable exemption from the registration requirements and otherwise in compliance with the securities laws of such country, or any other jurisdiction in which it would not be permissible to offer the Offer Shares.
Thinfilm is Energizing Innovation™ with ultrathin, flexible, and safe energy storage solutions for wearable devices, connected sensors, and beyond. Thinfilm's innovative solid-state lithium battery (SSLB) technology is uniquely positioned to enable the production of powerful, lightweight, and cost-effective rechargeable batteries for diverse applications. The Company's state-of-the-art flexible electronics manufacturing facility, located in the heart of Silicon Valley, combines patented process technology and materials innovation with the scale of roll-to-roll production methods to bring the advantages of SSLB technology to established and expanding markets. Thin Film Electronics ASA is a publicly listed company in Norway with corporate headquarters in Oslo and global headquarters in San Jose, California.
Kevin Barber - Chief Executive Officer
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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