Why the 4DS Memory (ASX:4DS) share price is charging 8% higher today

The tech company’s shares are starting the week off in the green.
The post Why the 4DS Memory (ASX:4DS) share price is charging 8% higher today appeared first on The Motley Fool Australia. –

The 4DS Memory Ltd (ASX: 4DS) share price is pushing into positive territory on Monday. This comes after the company announced an update to its recent Share Purchase Plan (SSP) offer.

In mid-morning trade, the memory storage company’s shares are up 8% to 5.4 cents.

What did 4DS Memory announce to the ASX?

According to its release, 4DS Memory advised it has successfully completed its SSP following “very strong support” from shareholders.

The company received a large number of applications, totalling around $5.934 million. This represents significant interest given the company’s target of $2.5 million.

As a result, the board has decided to increase its SPP offer size to $3.5 million and scale back applications.

Eligible investors who applied for the minimum $2,000 amount will be unaffected by the scale back. However, those who applied for more will be subject to a 46.4643% reduction on their applications. This is to achieve the revised SPP target ($3.5 million).

The terms offered were the same as the previous $2.5 million placement that saw domestic and international institutions take part.

The total proceeds of $6 million will be used to progress the development of 4DS’ Interface Switching ReRAM technology. In addition, the remaining funds will be allocated towards the maintenance of intellectual property and general working capital.

4DS Memory expects the new shares to be issued and available for trading from tomorrow. Refunds will be credited to shareholder accounts or by cheque, also by tomorrow.

4DS Memory share price summary

During the past 12 months, the 4DS Memory share price has lost about 55%, with year-to-date down almost 60%. The company’s shares reached an all-time high of 28 cents in January 2021.

On valuation grounds, 4DS Memory presides a market capitalisation of about $71.46 million, with 1.37 billion shares outstanding.

The post Why the 4DS Memory (ASX:4DS) share price is charging 8% higher today appeared first on The Motley Fool Australia.

Should you invest $1,000 in 4DS Memory right now?

Before you consider 4DS Memory, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and 4DS Memory wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

The 4DS Memory (ASX:4DS) share price is plummeting 11% today. Here’s why

The 4DS Memory (ASX:4DS) share price is halted. Here’s what you need to know

Motley Fool contributor Aaron Teboneras owns 4DSMEMORY FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!