Edwin Coe is delighted to announce that it advised longstanding AIM-quoted Israeli client Ethernity Networks Ltd on a fundraising to raise £1.55 million through the issue of 22,142,858 new Ordinary Shares. This is the second fundraising that Edwin Coe has acted on for Ethernity Networks in the past 15 months.
Corporate Partner Daniel Bellau commented “We’re delighted to be able successfully to assist Ethernity Networks once again in raising funds to support their growth strategies in what are undeniably challenging conditions for equity capital markets fundraisings.”
Mark Reichenberg, CFO Ethernity Networks commented “Once again, Daniel and his team acted efficiently, effectively, and always with the Company as their focus in getting this Placing done in extremely difficult markets. Having worked with Daniel over the past many years, he and Edwin Coe are our go-to team for our UK transactions.”
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 100 million end users. The proceeds of the transaction will be used to strengthen the balance sheet, to support the growing number of and field deployments of its products and for general working capital purposes.