REC Silicon, a Norwegian producer of advanced silicon materials with manufacturing facilities in the U.S., has raised approximately NOK 1,000 million (~$108.29 million) in gross proceeds through the Private Placement of 92,592,592 new shares, at a price per share of NOK 10.80 (~$1.16). The private placement took place through a process managed by Arctic Securities and Pareto Securities. The private placement was substantially oversubscribed. The net proceeds will be used to fund expansion investments and activities at the company’s facilities in Butte and Moses Lake as well as for general corporate purposes.