Weebit Nano Ltd. · ASX:WBT
Weebit Nano — Investor Presentation (March 2023)
57 slides from Weebit Nano's investor presentation, Mar 23, 2023
Slide 1: ReRAM: The Next NVM is Here
ReRAM: The Next NVM is Here 23 March 2023
Slide 2: Important notice and disclaimer
Important notice and disclaimer IMPORTANT: You are advised to read the following carefully before making any use of the information contained in this presentation. SUMMARY INFORMATION This presentation has been prepared by Weebit Nano Limited (ACN 146 455 576) ('Issuer' or ‘Weebit’). It is a present
Slide 3: Important notice and disclaimer
Important notice and disclaimer NOT FOR RELEASE TO U.S. WIRE SERVICES OR DISTRIBUTION IN THE UNITED STATES This presentation may not be released to U.S. wire services or distributed in the United States. This presentation does not constitute an offer to sell, or a solicitation of an offer to buy, an
Slide 4: Important notice and disclaimer
Important notice and disclaimer The financial information in this presentation is presented in an abbreviated form insofar as it does not include all the presentations and disclosures, statements or comparative information as required by the AAS and other mandatory professional reporting requirement
Slide 5: Important notice and disclaimer
Important notice and disclaimer Investors are strongly cautioned not to place undue reliance on forward-looking statements, particularly in light of the current economic climate and the significant volatility, uncertainty and disruption caused by the COVID-19 pandemic and geopolitical tensions such
Slide 6: Important notice and disclaimer
Important notice and disclaimer The lead managers and their respective Beneficiaries: • have not independently verified any of the information in this presentation and take no responsibility for any part of this presentation or the capital raising; • have not authorised, permitted or caused the issu
Slide 7: Important notice and disclaimer
Important notice and disclaimer EFFECT OF ROUNDING A number of figures, amounts, percentages, estimates, calculations of value and fractions in this presentation are subject to the effect of rounding. Accordingly, the actual calculation of these figures may differ from the figure set out in this pre
Slide 8: Company update
@: Weebitnano THE NEXT NVM IS HERE Company update
Slide 9: Who we are
Recently added to: Who we are Leading developer of innovative memory technologies Global Small Cap Index Bringing to market Weebit ReRAM – next-generation NVM(1) technology Enabling a new era of intelligent connected devices Founded: 2015 Signed 1st commercial deal Global NVM Market (US $B) Located
Slide 10: Strong board with world-renowned semiconductor industry experience
Strong board with world-renowned semiconductor industry experience David (Dadi) Dr. Yoav Atiq Raza Fred Bart Ashley Krongold Coby Hanoch Perlmutter Nissan-Cohen NON-EXEC. NON-EXEC. NON-EXEC. CEO CHAIRMAN EXEC. DIRECTOR DIRECTOR DIRECTOR DIRECTOR Copyright 2023 Weebit Nano, Ltd. 10
Slide 11: Strong and experienced management
Strong and experienced management Ishai Naveh Amir Regev Ilan Sever Eran Briman Alla Felder Coby Hanoch CTO VP TECH. VP R&D VP MARKETING & CFO CEO DEVELOPMENT BUSINESS DEV. Copyright 2023 Weebit Nano, Ltd. 11
Slide 12: Memory at the forefront of global investment in semiconductors
Memory at the forefront of global investment in semiconductors Government Investments & Incentives Geopolitics driving countries to invest $52B + 8 new fabs locally in semiconductors US CHIPS Act & EU Chips Act to boost US CHIPS Act $43B + 4 new fabs new fab construction, advanced R&D in these regio
Slide 13: Weebit ReRAM memory has inherent advantages vs. Flash memory
Weebit ReRAM memory has inherent advantages vs. Flash memory 3-4x 100x ~100x <40nm Lower added wafer cost Better endurance More energy efficient Scales to processes far vs. flash vs. flash vs. flash below limits of flash ✓ 2-mask adder ✓ Low voltage, low currents ✓ Proven @ 28nm ✓ 105-106 P/E cycles
Slide 14: Weebit ReRAM addresses a broad range of application requirements
Weebit ReRAM addresses a broad range of application requirements Mixed-Signal / Aerospace IoT / MCUs Edge AI Automotive Power Mgmt & Defense Wireless charging; Wearables; Security cameras, ECUs for sensors Flight safety Example Applications Motor control Smart cards Industrial & controllers systems;
Slide 15: ReRAM adoption is underway in large end markets
ReRAM adoption is underway in large end markets Automotive ICs Power Management chips (PMICs) Wireless charging, motor control, and others Weebit ReRAM Advantages vs Flash ✓ Safety, security, longevity Weebit ReRAM Advantages vs. Flash ✓ Reliable in extreme temps, EMI, vibration, ✓ Embedded flash re
Slide 16: Weebit is addressing both segments of the Non-Volatile Memory market
Weebit is addressing both segments of the Non-Volatile Memory market Embedded Memory Discrete Memory Chip Part of an SoC Contains only memory (System-on-a-Chip) Embedded Memory ▪ Embedded memory modules (with ReRAM IP): ▪ Discrete (stand-alone) memory chips: immediate opportunity short/mid-term oppo
Slide 17: Embedded ReRAM market segment – Approaching the tipping point
Embedded ReRAM market segment – Approaching the tipping point Embedded ReRAM Market Size 2021 - 2027 $952m The embedded emerging NVM market is expected to reach $3B by 2027(1) 94% ReRAM expected to capture 33% market share CAGR This estimate is based on the embedded NVM, focused on the MCU market Do
Slide 18: Foundry-centric IP business model for embedded market
Foundry-centric IP business model for embedded market Foundry offers the IP to customers; collects up-front use fees from customers Foundry pays royalties based on % of wafer price $ License fee Product $ Process NRE Foundries $ ReRAM use fees Companies $ Royalties $ Wafer cost $ Use fees Intel, Glo
Slide 19: 3-Way Business Model
3-Way Business Model ❖ License fees and royalties directly depend on memory size, technology type, # of instances, # of uses and other parameters ❖ Non-Recurring Engineering (NRE) is contingent on specific scope of work Foundries Product Companies Silicon wafers Wafer cost (including ReRAM) Copyrigh
Slide 20: Discrete market segment opportunity
Discrete market segment opportunity The discrete (standalone chips) NVM market is very broad; numerous opportunities for Weebit ReRAM Market Applications Opportunity Weebit Advantages Timeline NVSRAM and $2B in 2021 ✓ Die size IoT, Medical, A&D Short-term EEPROM(1) 1% CAGR 2021-2027 ✓ Cost ✓ Ultra-l
Slide 21: Significant recent progress
Significant recent progress JAN 2023 Taped out first NOV 2022 demo chip in First production- advanced OCT 2022 fab wafers 22nm FD-SOI Final qualification integrating process OCT 2022 of ReRAM IP Weebit IP ReRAM selector module. JUN 2022 can achieve Industrial-grade ReRAM IP high densities temperatur
Slide 22: Successfully completed ReRAM memory module qualification
Successfully completed ReRAM memory module qualification Qualification is a key step for every semiconductor product on each new target process Major milestone using Weebit’s ReRAM memory module Commercial Traction produced at CEA-Leti Based on results, Qualified wafers to Weebit ReRAM is industry s
Slide 23: SkyWater taking Weebit ReRAM to volume production
SkyWater Technology (Nasdaq:SKYT) – only US-owned pure-play silicon foundry – taking Weebit ReRAM to volume production Dies are fully- functional: Memory, MCU, System We are here September 2021 June 2022 July 2022 November 2022 March 2023 1H 2023 Customer wafers Signed agreement Completed Tape-out o
Slide 24: Taped out Weebit ReRAM demo chip to GF 22nm
Taped out Weebit ReRAM demo chip to GF 22nm Addresses the need for new NVM at one of the industry’s most common process nodes On-time tape-out of ReRAM IP module in GlobalFoundries’ 22FDX™ FD-SOI (fully depleted silicon on insulator) platform FD-SOI: high performance at very low voltage/ low leakage
Slide 25: Weebit is engaged with most top-10 foundries and IDMs
Weebit is engaged with most top-10 foundries and IDMs Top-10 Integrated Device Top-10 Foundries* Manufacturers (IDMs)(1) 1 TSMC 1 Samsung In different levels of 2 Samsung 2 Intel discussion/ evaluation with most of the top fabs 3 UMC 3 SK Hynix 4 GlobalFoundries 4 Micron Expect to sign an 5 SMIC 5 T
Slide 26: Selector technology development: key for high-density NVMs
Selector technology development: key for high-density NVMs Selector is a strategic R&D effort for Weebit and CEA-Leti Enabling high-capacity memory arrays while keeping size and power requirements to a minimum Will enable 3D ReRAM in the future Discrete chips need higher densities than can be achiev
Slide 27: ReRAM is inherently radiation tolerant
ReRAM is inherently radiation tolerant ReRAM cell stores data within dielectric stack in back-end-of-line (BEOL) Results show both HRS and LRS process, so various types of radiation do not affect it distribution were preserved, confirming Does not use charge trap like flash Weebit ReRAM preserves da
Slide 28: Weebit ReRAM: Greener non-volatile memory
Weebit ReRAM: Greener non-volatile memory NVM Environmental Impact Examples Water Use Resource use, minerals & metals ReRAM Process -41.6% -53.5% MRAM Process * Source: Non-Volatile Memory Lifecycle Analysis completed by CEA-Leti Q4 2022 ReRAM has a lower carbon footprint vs. flash and MRAM No i
Slide 29: Weebit Nano key targets for 1H23
Weebit Nano key targets for 1H23 SkyWater Fab Partners Customers Conclude qualification of Sign with a Tier-1 fab Close initial agreements embedded ReRAM module Automotive Continue R&D Scaling 22nm Qualify the technology for Further technical Continue scaling the automotive conditions enhancements t
Slide 30: Key takeaways
Key takeaways Weebit ReRAM: The Next NVM is Here! Weebit ReRAM has Making strong tech Board & mgmt. Weebit is on track to The industry needs unique advantages; progress: 1st wafers have extensive deliver a production a new Non-Volatile is well positioned to from a production semiconductor solution a
Slide 31: Equity raising
@: Weebitnano THE NEXT NVM IS HERE Equity raising
Slide 32: Offer summary
Offer summary Weebit is conducting a Placement and Share Purchase Plan to raise up to $55 million ▪ Weebit is conducting an Offer to raise up to $55 million, comprising: ‒ a fully underwritten institutional placement to raise $45 million (“Placement”); and ‒ a non-underwritten Share Purchase Plan to
Slide 33: Sources and uses of funds
Sources and uses of funds Proceeds to fund development and commercialisation of Weebit’s ReRAM technology, enabling Weebit to capitalise on the unique market opportunity in the NVM market Sources A$m % Scale up and commercial roll out of Weebit’s technology Placement proceeds 45.0 82% Transfer and q
Slide 34: Offer timetable
Offer timetable Placement and Share Purchase Plan timetable Event Date (Sydney, Australia time) Record date for SPP 7:00pm, Wednesday 22 March 2023 Trading halt, announcement of Placement and SPP Thursday, 23 March 2023 Announcement of completion of Placement, trading halt lifted Friday, 24 March 20
Slide 35: Risk factors
@: Weebitnano THE NEXT NVM IS HERE Risk factors
Slide 36: Risk factors
Risk factors An investment in Weebit involves general risks associated with an investment in the share market. The price of New Shares may rise or fall. There are also a number of risk factors, both specific to Weebit and of a general nature, which may affect the future operating and financial perfo
Slide 37: Risk factors
Risk factors b) Conflict in Ukraine Geopolitical conditions that impact the global economy, including the ongoing conflict in Ukraine, have led to, and may continue to result in, geopolitical and economic uncertainty and volatility in global financial markets, which could adversely affect Weebit’s f
Slide 38: Risk factors
Risk factors b) Termination of SkyWater Agreements or agreements to be entered into with major foundries and independent device manufacturers As at the date of this Investor Presentation, Weebit is party to a technology transfer and qualification agreement and a technology licencing agreement with S
Slide 39: Risk factors
Risk factors e) Sales and marketing success Weebit is seeking to develop and market the ReRAM technology. By its nature, there is no guarantee that the ReRAM technology development and marketing campaign will be successful. In the event that it is not successful, Weebit may encounter difficulty crea
Slide 40: Risk factors
Risk factors i) Judicial reform process in Israel The Israeli government is currently pursuing extensive changes to Israel’s judicial system and has sparked significant debate. In response to the foregoing developments, many individuals, organisations and institutions, both within and outside of Isr
Slide 41: Risk factors
Risk factors l) Funding risk Weebit also expects to raise further equity capital over the next 3 years. Any additional equity financing will dilute shareholdings, and debt financing, if available, may involve restrictions on financing and operating activities. If Weebit is unable to obtain additiona
Slide 42: Risk factors
Risk factors Each Joint Lead Manager may in its sole discretion, by notice to the Issuer and the other Joint Lead Manager, terminate the Placement Agreement if any one or more of the following occur before 4.00pm on the settlement date: • ASX announces that the Issuer will be removed from the offici
Slide 43: Risk factors
Risk factors • ASIC: • makes an application or threatens to make an application for an order under Part 9.5 of the Corporations Act in relation to the Placement, and any such application (or threat) becomes public or is not withdrawn within 2 business days after it is made or where it is made less t
Slide 44: Risk factors
Risk factors • the Placement Documents include any forecast, expression of opinion, belief, intention or expectation which is not based on reasonable grounds (including having regard to ASIC Regulatory Guide 170) or any other announced forecast or expectation comes incapable of being met; • the Issu
Slide 45: Risk factors
Risk factors • there is an omission from or misstatement relating to the completed due diligence questionnaire or any other information supplied by or on behalf of the Issuer to the Joint Lead Managers; • there is introduced, or there is a public announcement of a proposal to introduce, into the Par
Slide 46: Risk factors
Risk factors • hostilities not existing as at the date of the Placement Agreement commence (whether war has been declared or not) or a major escalation in existing hostilities occurs (whether war has been declared or not) or a major terrorist act is perpetrated involving any one or more of Australia
Slide 47: Risk factors
Risk factors 1.4 General risks a) Share price fluctuations The market price of Weebit’s securities will fluctuate due to various factors, many of which are non-specific to Weebit, including recommendations by brokers and analysts, Australian and international general economic conditions, inflation r
Slide 48: Risk factors
Risk factors e) General Economic risks Weebit is exposed to economic factors in the ordinary course of business. A number of economic factors / conditions, both domestic and global, affect the performance of financial markets generally, which could affect the price at which the Weebit’s securities t
Slide 49: Risk factors
Risk factors h) Accounting Standards Weebit prepares its general-purpose financial statements in accordance with International Financial Reporting Standards (IFRS) and the Corporations Act 2001 (Cth). Australian Accounting Standards are subject to amendment from time to time, and any such changes ma
Slide 50: Risk factors
Risk factors l) Acquisitions As part of its business strategy, Weebit may make acquisitions of, or significant investments in, companies, products, technologies and/or products that are complementary to Weebit’s business. Any such future transactions are accompanied by the risks commonly encountered
Slide 51: Risk factors
Risk factors o) Insurance and uninsured risks Although Weebit maintains insurance to protect against certain risks in such amounts as it considers to be reasonable, its insurance will not cover all the potential risks associated with its operations and insurance coverage may not continue to be avail
Slide 52: International Offer Restrictions
International Offer Restrictions This document does not constitute an offer of new ordinary shares (“New Shares”) of the Company in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New Shares may not be offered or sold, in any
Slide 53: International Offer Restrictions
International Offer Restrictions Language of documents in Canada. Upon receipt of this document, each investor in Canada hereby confirms that it has expressly requested that all documents evidencing or relating in any way to the sale of the New Shares (including for greater certainty any purchase co
Slide 54: International Offer Restrictions
International Offer Restrictions New Zealand This document has not been registered, filed with or approved by any New Zealand regulatory authority under the Financial Markets Conduct Act 2013 (the “FMC Act”). The New Shares are not being offered or sold in New Zealand (or allotted with a view to bei
Slide 55: International Offer Restrictions
International Offer Restrictions No offering or marketing material relating to the New Shares has been, nor will be, filed with or approved by any Swiss regulatory authority or authorised review body. In particular, this document will not be filed with, and the offer of New Shares will not be superv
Slide 56: International Offer Restrictions
International Offer Restrictions United States This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States. The New Shares have not been, and will not be, registered under the US Securities Act of 1933 or the securities laws of any state
Slide 57: Thank You!
Thank You! www.weebit-nano.com