News: LEDs
7 March 2025
Auction of CrayoNano’s assets extended to 17 March
Due to “high demand and requests from several participants”, there has been an extension to 17 March (14:00 Norwegian time) of the auction (begun on 28 February) of the assets of CrayoNano AS of Trondheim, Norway — a developer and manufacturer of semiconductor components, including UVC-LEDs, based on patented and proprietary nanomaterials technology, until its bankruptcy in January.
The sale includes CrayoNano’s complete technological assets, including patents, servers, hard drives, and research materials, in one package.
On 19 September 2024, CrayoNano’s board announced an extraordinary general meeting to authorize it to pursue strategic alternatives. On 3 December, the firm initiated the subscription period for a convertible loan to finance ongoing operations while facilitating continued strategic discussions with potential industrial partners on a business plan to realize the commercial potential of the firm’s technology. Despite interest from several investors, and a deadline extension on 17 December to 15 January, CrayoNano did not receive sufficient subscriptions to cover the minimum target amount of NOK15m (about US$1.4m).
With no alternatives to secure short-term financing, in January CrayoNano’s board of directors filed for bankruptcy at the Trondheim district court, and requested suspension of registration of the firm’s ordinary shares on Oslo Børs’ NOTC marketplace for unlisted shares.
For details of the auction, see www.auksjonen.no.
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