Weebit Nano successfully secures US$40 million to accelerate development and commercial roll-out of its ReRAM

Weebit Nano (ASX:WBT), a leading developer of advanced memory technologies for the global semiconductor industry, is pleased to announce the successful completion of an approximately US$40 million (AU$60 million) fund raising through the placements of twelve million new shares to international institutional investors, as well as an oversubscribed share purchase plan (SPP) to existing shareholders. Proceeds will fund further development and commercial roll-out of Weebit resistive random access memory (ReRAM) technology in both the embedded and discrete markets. It will also enable Weebit to capitalize on the significant opportunities within the Non-Volatile Memory (NVM) market as the company progresses its commercialization strategy with leading foundries, integrated device manufacturers (IDMs) and potential customers. Weebit’s proven embedded ReRAM technology is first available in U.S. fab SkyWater Technology’s 130nm process, which is ideal for IoT, medical and aerospace applications.