4DS Memory Limited (ASX:4DS) Secures $6 Million in Placement
4DS Memory Limited (ASX:4DS) has successfully secured $6 million through a highly successful placement, which attracted substantial interest from institutional and high net worth investors. The placement involved the issuance of approximately 166.7 million shares at an issue price of $0.036 per share.
Placement Overview
The placement was well received, with demand exceeding the available shares. Alongside this, 4DS will offer a Share Purchase Plan (SPP) targeting an additional $2 million. Eligible shareholders, as of the record date on 16 January 2025, can acquire shares at the same price as the placement, supplemented by 1 free attaching option for every share purchased.
Use of Funds and Strategic Partnerships
The capital raised will support advancements in the existing Design Agreement with Infineon Technologies LLC. This alliance focuses on designing a custom ReRAM memory test chip tailored to 4DS’s requirements. Executive Chairman Mr David McAuliffe expressed encouragement from the successful placement, indicating ongoing commitment towards innovation and growth in partnership with industry leaders like Infineon and imec.
Future Outlook
The completion of this capital raise is pivotal for 4DS as it progresses in developing high bandwidth, non-volatile memory technologies, with strong demand anticipated in sectors driving AI advancements. Adhering to the timeline, the SPP will open on 24 January 2025, with results expected to follow by 20 February 2025.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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