• Strategic raise to bolster ReRAM leadership and broaden AI offerings
• Funds to accelerate development and commercial activities for ReRAM technology
• Placement to new and existing institutional investors, with additional Share Purchase Plan

Weebit Nano Ltd (ASX: WBT) has launched a fully underwritten institutional placement to raise A$80.0 million, as well as a non-underwritten placement to raise up to A$10.0 million from Israeli investors. The company will also offer a non-underwritten Share Purchase Plan to existing shareholders to raise up to an additional A$15.0 million. The funds raised will be used to accelerate Weebit Nano's path to becoming the market leading ReRAM technology, fast-track the development and delivery of AI offerings, and for general corporate purposes. Weebit Nano CEO Coby Hanoch stated that the strategic capital raise significantly strengthens the company's balance sheet, enabling it to accelerate development and commercial activities to ensure its ReRAM technology is the clear leader as the industry moves to adopt ReRAM in next-generation technologies. The placement is being conducted at A$4.05 per new share, representing a 10.8% discount to the last close price and a 14.0% discount to the 5-Day VWAP. The new shares will rank equally with existing Weebit Nano shares.

The capital raise will enable Weebit Nano to accelerate the development and commercialization of its ReRAM technology, as well as expand its offerings into AI applications. This is expected to strengthen the company's market leadership position in the growing ReRAM market.