• Weebit Nano completes $15 million Share Purchase Plan
• Brings total funds raised to $102 million, including recent $87 million placement
• Funds to accelerate scale-up and commercialisation of Weebit's ReRAM technology, fast-track AI offerings, and for general corporate purposes

Weebit Nano Ltd (ASX: WBT) has successfully raised approximately $15 million via a strongly supported Share Purchase Plan (SPP) to existing shareholders. The SPP follows the recent completion of a fully underwritten institutional placement of $80 million and a non-underwritten placement of $7 million to Israeli investors. The total gross proceeds raised through the SPP and recent placements amount to approximately $102 million. The funds will be used to accelerate the scale-up and commercialisation of Weebit's market-leading ReRAM technology, fast-track the development and delivery of AI offerings, and for general corporate purposes. Weebit Nano CEO Coby Hanoch expressed gratitude for the strong support from the company's retail shareholder base, noting that Weebit is at an exciting juncture with AEC-Q100 (automotive grade) qualified ReRAM, multiple licensing agreements, and two commercial product prototypes integrated with Weebit ReRAM. The strengthened balance sheet will enable Weebit to accelerate its growth ambitions, address new market segments, and increase barriers to entry.

The funds raised will be used to accelerate the scale-up and commercialisation of Weebit's market-leading ReRAM technology, fast-track the development and delivery of AI offerings, and for general corporate purposes. Weebit aims to cement its market leadership and expand its footprint, as the ReRAM race will be run and won in the coming years.