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FINWIRES

Weebit Nano Raises AU$15 Million Through Share Purchase Plan

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Weebit Nano (ASX:WBT) generated about AU$15 million through a share purchase plan for existing stockholders that closed on May 8, according to a Thursday filing with the Australian bourse.

The company said it will issue about 3.7 million new shares under the plan, priced at AU$4.05 apiece.

Weebit Nano plans to use the proceeds to accelerate the commercialization of its ReRAM technology, speed up the development of AI offerings, and for general corporate purposes.

The company's shares gained 22% on market close.

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