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Woodford invests $42 million in Thinfilm
Woodford Investment Management has agreed to acquire 120'000'000 new shares in Thinfilm in a private placement at a subscription price of NOK 3.00 per share totalling NOK 360 million (USD 42 million).
Upon completion of the transaction, Woodford will hold 17.8% of the shares in the Company. Upon subscription in the offering, Woodford will also receive 40 million warrants, each with an exercise price of NOK 4.50. The warrants are exercisable after a 12-month holding period, and expire in two years.
"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."
