Weebit is in the process of a reverse take-over of Radar Iron Ltd. Radar Iron is listed on the Australian Stock Exchange and one of the terms of the takeover deal is that Radar Iron will change its name to Weebit Nano once the takeover is completed. The deal also includes the raising of about $4 million (see ReRAM startup in reverse takeover for funds ).
Weebit, founded in 2014, has an R&D agreement with Rice University (Houston, Texas) and has licensed 7 patents on the silicon oxide memory technology being researched there by Professor James Tour.
Perlmutter joined the board of Weebit Nano as a non-executive director on April 1, 2016 and will step up to the position of chairman after completion of the acquisition of Weebit Nano by Radar Iron.
During his 34-year tenure at Intel, Perlmutter held various senior technology and management positions and was responsible for developing several of Intel's major products and technologies.
Perlmutter left Intel in 2014 and is currently a managing general partner at Eucalyptus Growth Capital focusing on investment in late-stage Israeli technology companies.
A meeting of Radar Iron shareholders is due to take place on the May 2016 seeking approval for the steps required for the Weebit acquisition and associated re-compliance capital raising.
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