Redeye states BeammWave’s report was insignificant, and the customer announced the morning after was the main event. Redeye views the signalling value of the undisclosed mmWave leader (turnover higher than USD10bn) as significant, as it already has an established market share. Thus, BeammWave would scale rapidly with each socket win. Redeye believes financing is decent, with existing warrants being in the money. Redeye raises its estimates and fair value range.

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