4DS Memory (ASX:4DS) is set to raise AU$6 million via the placement of about 166.7 million shares priced at AU$0.036 apiece, according to a Friday filing with the Australian bourse.
The placement will involve the issuance of one free attaching option for each share issued, with an exercise price of AU$0.036 each, and an expiry date of Feb. 28, 2028, the filing said.
The company will also offer eligible shareholders on the register as of Thursday, Jan. 16 the opportunity to participate in a share purchase plan to raise a further AU$2 million with the same terms as that of the placement.
Proceeds will be used to advance the design agreement with German-based semiconductor supplier Infineon Technologies, according to the filing.
Bell Potter Securities was the lead manager for the placementt.
Shares fell 2% in midday trade Friday and earlier hit their lowest since July 2023.
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