- Weebit Nano (WBT) has opened a $3 million share purchase plan following a $12 million placement
- Shares will be offered at $1.70, the same price as the placement, representing a 20.3 per cent discount to the 10-day volume-weighted average price
- Weebit will spend the new cash on its neuromorphic technology research and allow it to bring forward other growth opportunities
- Shares have been trading 1.27 per cent higher at $2.00
Weebit Nano (WBT) has opened a $3 million share purchase plan following its $12 million placement.
Shares will be offered at an issue price of $1.70, the same terms as the placement, representing a 20.3 per cent discount to the 10-day volume-weighted average price.
Eligible shareholders may subscribe for up to $30,000 worth of securities.
The share purchase plan is scheduled to close on Tuesday December 15, 2020.
Weebit will spend the new cash on its neuromorphic technology research, commercialisation efforts and other growth opportunities according to CEO Coby Hanoch.
“After successfully completing our technology stabilisation process and recently broadening our strategic partnership with CEA-Leti, we are very excited to be in the final stages of pre-commercialisation and to be able to further accelerate key development and commercialisation activities across the embedded and standalone memory domains, as well as the neuromorphic domain,” the CEO stated.
Shares have been trading 1.27 per cent higher at $2.00 at 10:15 am AEDT.