Thin Film Electronics announces plans to conduct private placement

Company to sell shares and possibly warrants to raise working capital

By Devika Patel

Knoxville, Tenn., Sept. 28 - Thin Film Electronics ASA announced plans for a private placement of shares to raise additional working capital. Warrants may be attached to the shares.

The company said it needs to raise capital by the fourth quarter and it plans to complete the private placement within this timeframe.

The contemplated placement is not expected to exceed 10% of the company's share capital, and the offer is slated to have fewer than 100 participants.

Based in Oslo, Thin Film uses polymers as the active material to make electronic memory devices.

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