Weebit Nano (ASX:WBT) licensed its resistive random access memory technology to Nasdaq-listed US semiconductor supplier onsemi, according to a Thursday filing with the Australian bourse.
The agreement allows Weebit ReRAM IP to be integrated into onsemi's Treo platform, providing embedded non-volatile memory, the filing said.
The company is obligated to meet technical milestones and will receive manufacturing license fees, non-recurring engineering fees, and royalties based on production volumes as part of the deal, according to the filing.
Shares fell nearly 10% in morning trade Thursday.
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