4DS Memory Limited (ASX:4DS) is making waves in the semiconductor space, announcing a successful $6 million placement alongside a $2 million Share Purchase Plan (SPP). The funds will accelerate the company's collaborative efforts with industry heavyweight Infineon Technologies and further development with imec, solidifying its position in the next-generation memory technology market.
Capital Raise: Strong Investor Confidence
The $6 million placement, led by Bell Potter Securities, involved the issuance of 166.7 million shares at $0.036 per share—a 12.2% discount to the prior trading day's close. This attracted interest from institutional and high-net-worth investors, with a notable oversubscription underscoring strong confidence in 4DS’s prospects. In addition to shares, participants receive unlisted options exercisable at the same price until February 2028.
The accompanying SPP, capped at $2 million, provides eligible shareholders the opportunity to buy up to $30,000 worth of shares on identical terms, with oversubscription flexibility of up to $600,000. A further safety net is provided by a committed institutional investor willing to absorb up to $1 million of any shortfall.
Infineon Partnership: The Key to Commercialisation
Executive Chairman David McAuliffe was optimistic about the deal, noting, “Engaging a global leader like Infineon to take 4DS to the next phase of development is a significant milestone. It reflects our progress and the immense potential of our technology.”
David McAuliffe
Fifth and Sixth Platform Lots: A Generational Leap
4DS recently completed testing on its Fifth Platform Lot, developed in collaboration with imec. This phase focused on refining processes to de-risk the forthcoming Sixth Platform Lot, which aims to scale memory cells from 60nm to a cutting-edge 20nm node. Such a leap would place 4DS in the vanguard of memory innovation, with implications for AI, big data, and edge computing applications.
The scalability demonstration, expected in the first half of 2025, is seen as critical for attracting commercial partners. McAuliffe emphasised the importance of this milestone, saying, “Scaling down to 20nm ensures we incorporate learnings from the 60nm phase to optimise the new platform and position ourselves as a generational memory technology.”
Strategic Importance of ReRAM
4DS’s Interface Switching ReRAM addresses the limitations of current memory technologies by combining the speed of volatile DRAM with the persistence of non-volatile storage. This positions 4DS uniquely in filling the gap between traditional DRAM and slower flash memory, offering high endurance, tunable retention, and low energy per bit.
With the global memory technology market expected to exceed US$200 billion by 2030, 4DS’s innovative approach is well-timed to capture a significant slice of the pie.
Looking Ahead
With fresh capital in hand, a high-profile partner in Infineon, and a clear roadmap to commercialisation, 4DS Memory is on track to deliver on its vision of enabling next-generation AI and data-driven applications. The Sixth Platform Lot's results and subsequent memory test chip development will be pivotal for demonstrating the scalability and market-readiness of its ReRAM technology.
The market will be watching closely as 4DS transitions from cutting-edge research to commercialisation, potentially redefining the memory landscape.