4DS Memory Limited (ASX:4DS) announced it would not proceed with its planned capital-raising initiative, as the offering was not in the shareholders' best interest. The company plans to raise capital in early 2025 to fund its obligations under a Design Agreement with Infineon Technologies LLC.
This agreement, which involves the development of a custom ReRAM memory test chip, will require progressively paid funds over 15 months. 4DS intends to provide further updates in January 2025, detailing the size and nature of the capital raise and ensuring that existing shareholders can participate in the upcoming raise.
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