Edwin Coe advises Ethernity Networks on a £4.2m fundraising

Edwin Coe is pleased to announce that it advised Ethernity Networks Ltd on a fundraising to raise £4.2m through the issue of 12,000,001 new Ordinary Shares. The issue was over-subscribed and had to be scaled back.

The Edwin Coe team was led by Daniel Bellau of our Corporate & Commercial team who commented “We’re delighted to be able to assist Ethernity Networks on the successful completion of this transaction as part of their expansion plans.”

Ethernity Networks (AIM: ENET) is a leading provider of networking and security software solutions on programmable hardware for accelerating the performance of telecommunications and cloud networks. Headquartered in Lod, Israel, Ethernity was founded in 2004 and has its technology deployed in over 700K systems worldwide, connecting over 100M end users. The proceeds of the transaction will be used to strengthen the balance sheet, to support the growing number of engagements for its 5G offering and for general working capital purposes.

You can read Ethernity Networks’ news release on their website.