4DS debuts on ASX

17/12/2015 - 13:39

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Memory technology company 4DS Memory has wrapped up its first day of trading on the ASX, closing well below its opening price but above the price of its recent capital raising.

Former Amcom Telecommunications chairman Anthony Grist has backed 4DS Memory.

Memory technology company 4DS Memory has wrapped up its first day of trading on the ASX, closing well below its opening price but above the price of its recent capital raising.

4DS acquired, through a reverse takeover, Perth-based Fitzroy Resources, and completed a $2.75 million raising at 2 cents per share, backed by prominent Perth investors Anthony Grist and Rod Jones.

The Silicon Valley-based company opened at 4.7 cents per share, and closed 37.5 per cent lower at 3 cents.

Chief executive Guido Arnout said 4DS was well positioned to address the “massive” memory storage demands of the future.

“The development of our transformational and disruptive memory technology has made significant progress demonstrating scalability, consistency and behaviour of memory cells at geometries well under 250 nanometres,” Mr Arnout said.

“We are committed to pioneering and developing an innovative non-filamentary, scalable and reliable ReRAM cell for next generation semiconductor memories in mobile and cloud-based storage.

“4DS is addressing the fastest growing segment of the global memory market, which has commercial significant for the potential replacement of flash technology.”

4DS is chaired by Jim Dorrian with David McAuliffe and former Sun Biomedical chairman Howard Digby on the board as directors.

The company confirmed a development update would be announced in the first quarter of next year.

 

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