Weebit raises another $15m

The SPP enabled eligible shareholders to apply for up to $30,000 worth of new fully paid ordinary shares in Weebit Nano (New Shares) at $5.00 per New Share.

It followed a $45 million underwritten placement to  investors announced last month.

The proceeds of approximately $60 million will fund the transfer and qualification of Weebit Nano’s ReRAM to new Tier-1 fabs and foundries, and support further technology development within the embedded and discrete memory markets.

“The Board of Weebit wanted to ensure that existing shareholders had the opportunity to participate in the raise on the same terms as the institutional funds that invested in the placement,” says CEO Coby Hanoch, “our first ReRAM Module is already available in US fab SkyWater Technology’s 130nm process, and we have demonstrated the ability to scale down to 22nm.”

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