Weebit - 2021and beyond, page-6159

A little reminder of why WBT is the leading ReRam contender and why Frost & Sullivan valued WBT at around $4 per share. Nice to see it starting to make a move today towards that figure which I think may well be reached by the end of April.

A key differentiator of Weebit’s ReRAM technology that sets it apart from competing solutions is the use of SiOx, a standard fab-friendly materials used in fabrication of semiconductor chips unlike other ReRAM companies that rely on materials such as praseodymium (Pr), manganese (Mn), Tantalum (TA), and tellurium (Te), which are uncommon in the semiconductor industry. SiOx has accelerated the company’s product development phase while firmly placing Weebit in a position to forge partnerships with global fabricators proficient in silicon, paving the way for a smooth technology transfer.

Weebit uses the standard tools and technology available in the semiconductor industry. To maintain this standardization, the company ensures thatthe devices and machines used in the cleanroom

of Leti’s in-house fabrication facility are common in any global fabrication facility. As a result, Weebit has successfully produced its memory cells on different process nodes associated with various fabrication facilities, thus providing an impetus to the company’s goal of establishing

a fabrication-friendly technology. Another key aspect of Weebit’s SiOx ReRAM technology is its ease of integration into existing CMOS-fabricating facilities, which will significantly decrease the time to market and cost of production.

Fig 5: SiOx ReRAM Package

Image Source: Weebit Nano Ltd

@ 2021 Frost & Sullivan

Weebit has completed the stabilization process, which is an essential precursor for production. The uniformity through the cell and the die was validated as no changes were observed in the wafer characteristics. Moreover, the same level of endurance was observed across multiple wafers.

Additional Benefits of Weebit’s SiOx ReRAM Technology include:

• High Endurance: The memory cell exhibits a very high endurance of one million cycles, unlike flash storage, which has a maximum endurance of few thousand cycles.

• High Retention: The memory cell can withstand high temperatures of up to 150 Celsius degrees, with data retention of 10years.

• Short Read/Write Time: The time taken
by the cell to read/write data is in the order of tens of nanoseconds, unlike flash, which offers a read/write time of few microseconds, thereby making ReRAM a high-speed memory.

• Low Power Consumption: The memory cell consumes around 0.1 Joule for writing one bit of data.

• Scalability: The ReRAM architecture could possibly be shrunk (full shrinking potential
is still under research) to few nanometers of 20, 16, or 5, unlike flash, which doesn’t shrink below 40 nm.

• Futuristic Memory Technology: The ReRAM architecture resembles biological synapses found in the human brain, making it an ideal starting point for the design of brain- inspired AI systems.

RESEARCH & CONSULTING LTD.

Valuation Summary

2020iii). Using the First Chicago Method and our company’s revenue forecast for Weebit, we value its equity at US$ 406.5 million.

We conducted Weebit’s valuation from the bottom up, using market benchmarks from recent deals and relevant market multiples, via the DCF method. We value the company’s equity to be in the range of US$ 337.8 million to US$ 393.1 million in view of all aforementioned findings and assessments.