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Allied Minds secures $22.8m funding

05 October 2017 09:35

Allied Minds subsidiary Spin Transfer Technologies has secured $22.8 million of funding via a convertible bridge facility.

Proceeds will be applied to fund development work of next-generation ST-MRAM designed to achieve industry-leading speed, size, low-power consumption, and endurance.

STT believes these superior specifications could accelerate the replacement of existing SRAM and DRAM memory, in particular in the faster growing Mobile and Enterprise segments where power consumption and cost are particularly important.

At 9:35am: (LON:ALM) Allied Minds PLC share price was +6.88p at 155.63p

Story provided by StockMarketWire.com

Related Company: ALM

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