4DS Raises $8.6M, Successfully Manufactures First 20nm Memory Cell Array
4DS Memory Limited has successfully manufactured its first 20nm memory cell array, marking a pivotal step in its ReRAM technology development, while raising $8.6 million through a placement and Share Purchase Plan to fuel ongoing innovation.
- Successful manufacturing of first 20nm memory cell array in Sixth Platform Lot
- Completion and optimization insights from Fifth Platform Lot testing
- Raised $6 million via placement and $2.6 million through Share Purchase Plan with attaching options
- Ongoing design collaboration with Infineon Technologies LLC on custom ReRAM test chip
- Cash position improved to $9.08 million with $3.5 million operating cash outflow in Q1 2025
Technical Progress and Platform Development
4DS Memory Limited (ASX:4DS) has reported a significant technical milestone with the successful manufacturing of its first 20nm memory cell array, incorporated in the Sixth Platform Lot. This achievement follows the comprehensive characterization and testing of the Fifth Platform Lot, which focused on optimizing the construction process of memory cell arrays at a proven 60nm cell size to mitigate risks ahead of scaling down to 20nm.
The Fifth Platform Lot's extensive electrical, chemical, and physical analyses identified key areas for process optimization. These learnings were shared with imec's engineering team, underpinning the successful fabrication of the Sixth Platform Lot. The 20nm array now en route to 4DS's facilities will undergo preliminary analysis in Q2 2025, potentially positioning 4DS’s Interface Switching ReRAM technology as a next-generation memory solution.
Capital Raising Strengthens Financial Position
To support its ambitious development roadmap, 4DS completed a $6 million placement in January 2025, issuing approximately 166.7 million shares at $0.036 each, accompanied by one-for-one unlisted options exercisable at the same price through February 2028. Additionally, a Share Purchase Plan initially targeted at $2 million was scaled back to $2.6 million after oversubscriptions, maintaining the same option structure.
These capital injections have bolstered 4DS’s cash reserves to $9.08 million as of 31 March 2025, up from $4.63 million at the end of 2024. Operating cash outflows increased to $3.51 million during the quarter, reflecting contractual payments to key partners imec and Infineon, with expectations of reduced cash burn in the June quarter.
Strategic Partnerships and Business Development
4DS continues to leverage strategic collaborations critical to its technology advancement and commercial prospects. The design agreement with Infineon Technologies LLC remains on track, with Infineon dedicating resources to develop a custom ReRAM memory test chip tailored to 4DS’s specifications. This partnership is pivotal for validating and advancing 4DS’s memory technology in a commercial context.
Looking ahead, Executive Chairman David McAuliffe plans to visit 4DS’s facilities in early June 2025 to oversee the Sixth Platform Lot analysis and engage with Infineon personnel in the USA and imec representatives in Europe. These interactions are expected to shape potential commercialization strategies as 4DS moves toward 2026.
Market Engagement and Governance
4DS will present at the upcoming Pitt Street Research Semiconductor Conference on 7 May 2025, with key executives participating both in person and via video link. The company maintains transparent governance practices, with related party payments disclosed in the quarterly cash flow report, including remuneration to executive and non-executive directors.
With a robust patent portfolio and established industry relationships, 4DS is positioning itself at the forefront of advanced ReRAM technology development, targeting high-performance, low-energy memory applications critical for AI and compute-intensive processors.
Bottom Line?
As 4DS awaits detailed analysis of its 20nm memory cell array, the company’s strategic funding and partnerships set the stage for a potentially transformative year ahead.
Questions in the middle?
- Will the preliminary analysis confirm the performance and scalability of the 20nm memory cell array?
- How will the capital raising impact shareholder dilution and option exercise timelines?
- What commercial milestones can be expected from the Infineon design collaboration in 2025?
