Weebit Nano (ASX:WBT) is getting ready for the big time with an $80m capital raise!

Hey Mark.

Yeah, so I know I received several questions from people about this and it really is important to understand. Weebit is really in a very unique situation right now where we have several — a lot of stars aligned. We are the only independent provider of ReRAM. This market is really growing fast and we have a very, very strong team that really knows how to develop the best ReRAM in the market. We have many ideas how to do it, how to develop automotive solutions with a cell size which is half of what the market is expecting, much faster access time that people are expecting, double what other qualified ReRAM does. Really on quite a few parameters. We have the ideas and the understanding of what needs to be done to really improve the ReRAM dramatically. But obviously we need funds for that. We need to run a lot of wafers through the fab, etc. We also are in a very unique situation on the AI front where the demand is just really growing. In-memory compute is a very hot topic. We're getting calls from people all the time because ReRAM is really such a good solution for in-memory compute. And Weebit also has a very unique advantage. Unlike many other companies in this space that have to use standard memories, we actually control the process. We can tailor the ReRAM bit to be more optimal for in-memory compute and again we set up that team earlier this year that is now working on defining our solutions for this domain. And we really want to push that forward. Again, you need funds to do all that research and development and everything. And in general, you know, just really push forward now capitalizing on the agreements that we have with DB HiTek and onsemi and Texas Instruments and pushing in the market and strengthening the marketing and the sales team. So all of these are really the reasons why we decided to move ahead and do the raise and now this raise will really enable us to move forward and execute.

So I guess it's really still very Australian based although we have funds or institutions from Asia that came in. You know, this time we had three brokers involved in the deal with UCP that did the previous one with MST and with Macquarie and they brought in some very strong institutions from Australia that are the type of institutions that we want to have on the register. So we're very happy with that. And obviously we had Meta wanting to keep their share and they participated yet again. They have a very strong support for Weebit and I thank them for it.