Ok, all just hypothesis but what if... What if WDC took the opportunity to wipe some debt and then have a crack at Kioxia..? We know they still have $9B on the books with approx $3B cash at hand.. Now financial forecasts were showing revenue going parabolic whilst debt disappeared, how so I wondered because at the time analysts would have been aware of the Kioxia rumours & 4DS etc.. WDC have punched a lot of time and effort into 4DS and we'd assume they are the most likely to purchase the tech... WDC and KIoxia have also invested a combined $40B in the joint venture so I cannot see WDC decoupling from that, it is integral..
However, what if the SPAC (complete with WDC heavyweights at the helm) bought the product and listed under a new WDC aligned development company name (similar to HGST) on the NYSE? That way they are sympathetic to WDC's needs maybe via a joint venture arrangement and can protect the IP from rival bidders should it get out.
WDC can then continue to develop SSD's with an advantage via Kioxias fabs (assuming they take the punt and with debt reduced would be in a position to do so) and utilise the new tech as it advances via licensing arrangements.. The are inextricably tied to Kioxia so I can't see how things continue if a rival takes the cake, unless they go with it.. And they are on a series of investor roadshows to build a war chest I assume, not to w***k spiders if it were..
The new company, having purchased the tech via the spac merger/listing can then license the IP to a Micron, Apple or whomever it sees fit to do so and take the normal royalty path/s, which 4DS never wanted to..
That way WDC locks up the tech without having to buy it or worry about who might? And can take advantage or lead further development as it may need & still protect the DRAM or SSD market share it has built up via leverage similar to current HGST and other joint venture arrangements it has structured.
Maybe they could Spin Sandisk out, although it's awfully big, or HGST for that matter and wipe their current $9B of debt with a merge and buyout of the 4DS tech.. Great place for it to sit, with either of the two?? Just rebadged and re-focused to hit both ends of town..
It might be possible, & that way they drop the debt they said they were going to and yet still pull in the revenue ($17-24B forecast) via a control mechanism or joint venture with the new company and still get a crack at Kioxia without the current debt burden.
And if they can and are willing to bid to $3B or more for 4DS as discussed I wouldn't be too unhappy... ?
The other thing I noticed today is Apple have been cutting Intel adrift and making their own framework SoC's
Probably read into it but it did seem like reram was a great fit for what they had planned in the upcoming release of the M2 device in July.. 8- 16GB SoC
Plenty going on everywhere you look at present... All just hypothesis while we wait for the typical release that says 4DS may have paved the way for it and its partners to blah blah blah... hehe 
8tey
