4DS Memory (ASX:4DS) has completed a $5.5M placement of 152,777,778 new shares at a discounted rate of $0.036 per share with firm acceptances.
In addition, for every two shares subscribed, incoming investors will receive one free attaching $0.055 unlisted option expiring in March 2026.
180 Markets has managed the placement and will receive a 6% cash fee and 10,000,000 options on the same terms as the Placement.
4DS Memory says the funds raised from the placement will be used to complete the manufacture and analysis of the Fourth Platform Lot, for the ongoing development of the company’s technology, and for working capital.