• Successful completion of A$80 million institutional placement
• Raised additional A$7 million through non-underwritten Israeli placement
• Proceeds to accelerate Weebit Nano's path to becoming the market leading ReRAM provider

Weebit Nano Ltd (ASX: WBT) has announced the successful completion of a fully underwritten A$80 million institutional placement and a non-underwritten A$7 million Israeli placement. The placements were well supported, with the new shares issued at A$4.05 per share, representing a 10.8% discount to the last closing price and a 14% discount to the 5-day VWAP. The proceeds from the placements will be used to accelerate Weebit Nano's path to becoming the market leading Resistive RAM (ReRAM) provider. CEO Coby Hanoch noted the strong support from new institutional investors, both in Australia and abroad, as a reflection of the company's maturing and its significant technical and commercial progress over the past year. The company also announced a non-underwritten share purchase plan targeting to raise up to A$15 million for eligible shareholders in Australia and New Zealand, also at the A$4.05 issue price. The new shares issued under the placements and the share purchase plan will rank equally with existing Weebit Nano shares.