Weebit Nano announced capital raise to support commercialisation of ReRAM technology

Key Takeaways:

• Weebit Nano has announced the launch of a fully underwritten institutional placement to raise ~AU$45 million.
• WBT intends to raise AU$10 million via SPP.
• The proceeds will be used in the commercialisation of its ReRAM technology.

On 23 March 2023, Weebit Nano Ltd (ASX: WBT) announced the launch of a fully underwritten institutional placement to raise ~AU$45 million. Under the Placement, the Company will issue ~9 million new shares at AU$5 per share. The Company aims to launch a non-underwritten share purchase plan (SPP) to raise an extra AU$10 million on the similar terms like Placement.

Weebit Nano Ltd. is a top developer of advanced semiconductor memory technology. It enables semiconductor designs to be quicker, lower cost, more energy efficient, and more environmentally friendly.

The proceeds from the Placement and SPP will support the Company in funding the further development as well as commercialisation of its ReRAM technology, allowing WBT to capitalise on significant opportunities in the NVM market as the Company progresses its commercialisation strategy with leading foundries and probable clients.

WBT’s ReRAM technology and its advantage over Non-Volatile Memory (NVM) technologies:

Weebit ReRAM is based on the most common materials used in fabs today. It uses standard tools & process flows and do not need special equipment or added floor space. All these features make integrating the ReRAM into any CMOS manufacturing flow easy.

Compared to other emerging NVMs, ReRAM is a much simpler and cost-effective stack to produce. It requires only 2 additional masks, compared to over 10 added masks for Flash. As a result, WBT ReRAM only adds 5% to the wafer cost, whereas Flash and MRAM both add around 20-30%, and even 40% in some process nodes.

Some other advantages of Weebit ReRAM include the following:

• High Endurance
• Excellent Data Retention even at High Temperatures
• Low Power Consumption
• Fast Access Time
• Tolerance to Environmental Conditions
• It is a Back-End-Of-Line manufacturing technology that can easily integrate with any Front-End-Of-Line technology.
• Designed for Security
• Enabling Wafer Level Packaging

NVM is typically used for secondary storage or long-term persistent storage. However, most forms of NVM have certain restrictions, which make them inappropriate for primary storage. These NVMs are also costly, provide lower performance, and have a limited lifetime to volatile random access memory. WBT’s ReRAM is an ideal successor to today’s NVM solutions. It can beat Flash on key metrics, including cost, power consumption, endurance, access time, etc.

WBT Partners:

• Global Foundries
• Nino Research Group
• IC’Alps
• SkyWater
• Institute Nanoscience Nanotechnology
• Politecnico
• IIT Delhi
• Technioin
• Silvaco
• CEA-Leti

Outlook of Semiconductor memory:

The outlook of the semiconductor industry is positive. By 2025, it is projected that the world will have generated over 180 trillion gigabytes of data because of the dramatic increase in consumer and business data.

Currently, in every corner of the world, people are connected via social media, sharing documents, images, and videos every minute. With the increase in buildings and cities getting smarter, sensors are on streetlights, traffic lights, parking meters, elevators, and air conditioners.

The data stored, whether on the cloud or device, semiconductor memory technologies have a key role to play. The rising data will increase the demand for these volatile and non-volatile memories as the world further interconnects.

The Global NVM market outlook:

Experts believe the Global NVM market will reach around US$70 billion in 2023 and will reach nearly US$152 billion by 2033. It represents a CAGR of ~8% from 2023 to 2033.

WBT’s Management Commentary:

Placement and SPP details:

Placement: The Placement will be conducted at A$5.00 per New Share. It represents a 9.7% discount to the last close price on 22 March 2023. Each share issued under Placement will rank pari passu with existing shares on issue.

SPP: The SPP will provide each qualified shareholder with the chance to apply for up to AU$30,000 worth of New Shares at AU$5.00 per share.

Indicative Timetable for Completion of the Placement and SPP

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