AI assistant
4DS MEMORY LIMITED — Capital/Financing Update 2021
Nov 24, 2021
64258_rns_2021-11-24_6cfe846b-60a2-4459-9f98-3f709f70a514.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
4DS Memory Limited | ABN 43 145 590 110 Level 2, 50 Kings Park Road, West Perth WA 6005 PO Box 271, West Perth WA 6872
+61 8 6377 8043 | [email protected] | www.4dsmemory.com
==> picture [52 x 37] intentionally omitted <==
ASX RELEASE
25 November 2021
Successful $2.5 million Placement and Launch of SPP
4DS Memory Limited ( ASX:4DS ) ( 4DS or the Company ) is pleased to announce that it has received binding commitments from domestic and international institutions and high net worth investors which has raised $2.5 million (“Placement”). The Placement attracted strong interest in excess of the shares available to allocate. The Placement will be followed by a share purchase plan (“SPP”) under which the Company intends to raise up to $2.5 million, with the ability to accept subscriptions for an additional $1 million worth of shares.
Highlights
-
4DS has successfully raised $2.5 million via a Placement of approximately 52 million shares at an issue price of $0.048 per share
-
The Placement is being made to domestic and international institutions and high net worth investors and is being lead managed by Mac Equity Partners
-
The Company is also intending to raise up to $2.5 million under a SPP, with the ability to accept up to an additional $1 million worth of oversubscriptions. Mac Equity Partners will underwrite the plan to $2.5 million
-
Capital raised will be used to progress the development of 4DS’ Interface Switching ReRAM technology with imec in 2022
Placement
4DS is pleased to advise that it has received binding commitments totaling $2.5 million from domestic and international institutions and high net worth investors in Australia. The Placement comprises the issue of approximately 52 million ordinary shares in 4DS (“New Shares”), at an offer price of $0.048 per New Share, representing a discount of 20% based on the 5 day VWAP calculated from the 5 trading days immediately prior to the trading halt.
The Placement is being conducted using the Company’s placement capacity under ASX Listing Rule 7.1, and a timetable for the Placement is provided at the end of this announcement.
Mac Equity Partners International Pty Ltd (“Mac Equity”) acted as sole and lead manager for the Placement.
Mac Equity will receive a 6% fee on monies raised and will also be issued 5,000,000 options exercisable at $0.08 within two years of the issue date.
Share Purchase Plan (SPP)
A SPP will be conducted and eligible shareholders on the Company’s share register as of 5pm WST on 24 November 2021 (“Record Date”) with a registered address in Australia or New Zealand can apply.
Eligible shareholders can acquire up to $30,000 of New Shares and the offer will seek to raise a minimum of $2.5 million at $0.048 per share, being the same price as the shares being issued under the Placement. Any funds received under the SPP that are in excess of $2.5 million will be accepted at the discretion of the Board, limited to an additional $1 million.
Page 1 of 4
112294 (1588718)
4DS Memory Limited | ABN 43 145 590 110 Level 2, 50 Kings Park Road, West Perth WA 6005 PO Box 271, West Perth WA 6872
+61 8 6377 8043 | [email protected] | www.4dsmemory.com
==> picture [52 x 37] intentionally omitted <==
4DS directors who are eligible to apply under the SPP will be participating in the SPP – David McAuliffe intends to subscribe for his full entitlement of $30,000 and Howard Digby intends to subscribe for $15,000.
Mac Equity has underwritten the SPP to $2.5 million and will receive a fee of 6% on monies raised under the SPP. The fee will not apply to any oversubscriptions.
Use of Funds
The Company intends to use the funds raised under the Placement and SPP to continue the development of 4DS’ Interface Switching ReRAM, including the 2022 work to be performed at imec, maintenance of intellectual property and for working capital purposes. Further details of the use of funds will be contained in the prospectus to be released by the Company in respect of the SPP.
Timetable*
Placement
| Event | Date | ||
|---|---|---|---|
| TradingHalt(pre-open) | Tuesday23 November 2021 | ||
| Firm Bids Due + Offer Closes | Wednesday24 November 2021 | ||
| TradingHalt Lifted(pre-open) | Thursday25 November 2021 | ||
| Funds Due | Thursday2 December 2021 | ||
| New Shares and Lead Manager Options Issued | Friday3 December 2021 | ||
SPP Timetable
| SPP Timetable | |
|---|---|
| Event | Date |
| Record Date of SPP | Wednesday24 November 2021 |
| Announcement of SPP | Thursday25 November 2021 |
| OpeningDate of SPP Offer | Thursday25 November 2021 |
| ClosingDate of SPP Offer | Tuesday14 December 2021 |
| Issue Date | Thursday16 December 2021 |
| Quotation of shares on ASX | Monday20 December 2021 |
| Dispatch of SPP holdingstatements | Monday20 December 2021 |
*Timetable is indicative and subject to change without notice and 4DS may at its discretion close the SPP early.
- ENDS -
Contact information
Investors: David McAuliffe 4DS Memory +61 408 994 313 [email protected]
Page 1 of 4
112294 (1588718)
4DS Memory Limited | ABN 43 145 590 110 Level 2, 50 Kings Park Road, West Perth WA 6005 PO Box 271, West Perth WA 6872
+61 8 6377 8043 | [email protected] | www.4dsmemory.com
==> picture [52 x 37] intentionally omitted <==
About 4DS
4DS Memory Limited (ASX: 4DS), with facilities located in Silicon Valley, is a semiconductor development company of non-volatile memory technology, pioneering Interface Switching ReRAM for next generation gigabyte storage in mobile and cloud. Established in 2007, 4DS owns a patented IP portfolio, comprising 32 USA patents granted (four of which have now expired) and 1 patent application, which have been developed in-house to create high-density Storage Class Memory. 4DS has a joint development agreement with Western Digital subsidiary HGST, a global storage leader, which accelerates the evolution of 4DS’ technology. 4DS also collaborates with imec, a worldleading research and innovation hub in nanoelectronics and digital technologies. The combination of imec’s widely acclaimed leadership in microchip technology and profound software and information and communication technology expertise makes them unique.
For more information, please visit www.4dsmemory.com .
Disclaimer
This release contains certain forward looking statements that are based on the Company’s management’s beliefs, assumptions and expectations and on information currently available to management. Such forward looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results or performance of 4DS to be materially different from the results or performance expressed or implied by such forward looking statements. Such forward looking statements are based on numerous assumptions regarding the Company’s present and future business strategies and the political and economic environment in which 4DS will operate in the future, which are subject to change without notice. Past performance is not necessarily a guide to future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward looking statements or other forecast. To the full extent permitted by law, 4DS and its directors, officers, employees, advisers, agents and intermediaries disclaim any obligation or undertaking to release any updates or revisions to information to reflect any change in any of the information contained in this release (including, but not limited to, any assumptions or expectations set out in the release).
You should not place undue reliance on these forward- looking statements. Except as required by law or regulation (including the ASX Listing Rules) we undertake no obligation to update these forward- looking statements.
Page 1 of 4
112294 (1588718)