This article is referenced on weebit-nano.com
Originated on:
https://en.globes.co.il/en/article-Israeli-NVM-co-Weebit-Nano-raises-$40m-1001444825
CEO Coby Hanoch: The funds raised ensure we are well-positioned to capitalize on significant demand in the NVM market.
Israeli memory chip developer Weebit Nano Ltd (ASX:WBT), traded on the Australian Securities Exchange, has raised A$60 million (US$40 million) in an equity offering. The offering was priced at A$5 per share, and took place in two stages: a A$45 million placement with institutional investors and a A$15 million offering to existing shareholders in the company, which was oversubscribed. Investors in the offering were from Australia, Israel, and other countries.
The share price in previous offerings by Weebit Nano was A$0.28 in July 2020, A$1.70 in November 2020, and A$2.84 in November 2021.
The company says that the offering 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.
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This article is referenced on weebit-nano.com Originated on:...
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