Weebit Nano (ASX:WBT) has announced a $45M fully underwritten institutional placement and the issue of about 9 million new fully paid ordinary shares at the issue price of $5 per new share.
Weebit Nano also intends to launch a non-underwritten share purchase plan to raise up to an additional $10M on the same terms at the placement.
The advanced semiconductor memory technology company says funds will be applied to accelerate the development and commercialisation of its advanced ReRAM semiconductor memory technology.
Weebit Nano's share price is up 167.67% in the past six months.