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© bellemedia-dreamstime.com Business | October 31, 2013

Invesco funds invest additional $24 million in Thinfilm

Invesco Asset Management Limited have agreed to acquire 46,666,666 shares in ThinFilm Electronics at a subscription price of NOK 3.00 per share totalling NOK 140 million (USD 24 million).

In October 2013, Invesco acquired 13% of the Company through a private placement of shares. The new transaction represents 10% of the Company. The investment is pursuant to resolution at the Extraordinary General Meeting in the Company on 2 October 2013, in which Invesco received 46,666,666 warrants, each with an exercise price of NOK 3.00. At a Board meeting held after the close of trading on 30 October 2013, the Thinfilm Board of Directors approved a request by Invesco to exercise the warrants in advance of the expiration of the original 12-month lock-up period. "Since Invesco's original investment, we have seen intense international interest in Thinfilm. The investment announced today will provide a tremendous opportunity to deliver our vision for the Internet of Everything, in which printed electronic objects become part of the network through near-field wireless communication," said Davor Sutija, CEO of Thinfilm.
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