Ethernity Networks Ltd Final Investment under Investment Agreement (8185Q)
01 Noviembre 2021 - 1:00AM
UK Regulatory
TIDMENET
RNS Number : 8185Q
Ethernity Networks Ltd
01 November 2021
1 November 2021
ETHERNITY NETWORKS LTD
("Ethernity" or the "Company")
Final Investment under Investment Agreement
Ethernity Networks (AIM: ENET.L), a leading supplier of data
processing offload solutions on programmable FPGA (field
programmable gate array) for accelerating telco/cloud networks,
announces that it has received notice of payment of the final
investment, in the amount of GBP750,000, under the investment
agreement with 5G Innovation Leaders Fund LLC ("5G Fund" or the
"Subscriber"), a U.S.-based specialist investor, as announced on 25
September 2020 (the "Agreement").
The 5G Fund will make the investment of GBP750,000 by way of
prepayment, in the next five days, for new Shares, valued at
GBP823,500 (the "Fifth Investment"). The proceeds from the
investment will be used by the Company for general corporate and
working capital purposes.
This investment is the final investment under the Agreement,
concluding the full GBP3.2m investment, and no further amounts
remain to be funded by the Investor under the Agreement. Following
the payment of this final investment, the amount subscribed for by
the Subscriber in relation to which shares will remain to be issued
will be GBP1,568,000.
Mark Reichenberg, the Ethernity CFO said "The Company would like
to thank 5G Fund for committing to the agreement in September last
year and for their continued support through the duration of the
agreement to this final investment. 5G Fund has been a supportive
and flexible funding partner for Ethernity, and its investments
have provided the Company with significant working capital during
this transformational period of time during which the Company's
activities increased exponentially."
Market Abuse Regulation (MAR) Disclosure
The information contained in this announcement is deemed by the
Company to constitute inside information as stipulated under
Article 7 of the Market Abuse Regulations (EU) No 596/2014, which
is part of UK law by virtue of the European Union (Withdrawal) Act
2018. With the publication of this announcement via a Regulatory
Information Service, this inside information is now considered to
be in the public domain.
For further information, please contact:
Ethernity Networks Ltd. Tel: +972 8 915 0392
David Levi, Chief Executive Officer
Mark Reichenberg, Chief Financial
Officer
Arden Partners plc (NOMAD and Joint Tel: +44 207 614 5900
Broker)
Richard Johnson / Oscair McGrath
Peterhouse Capital Limited (Joint Tel: +44 20 7562 0930
Broker)
Lucy Williams / Duncan Vasey / Eran
Zucker
About Ethernity (www.ethernitynet.com)
Ethernity Networks (AIM: ENET.L) provides innovative,
comprehensive networking and security solutions on programmable
hardware for accelerating telco/cloud networks. Ethernity's FPGA
logic offers complete Carrier Ethernet Switch Router data plane
processing and control software with a rich set of networking
features, robust security, and a wide range of virtual function
accelerations to optimize telecommunications networks. Ethernity's
complete solutions quickly adapt to customers' changing needs,
improving time-to-market and facilitating the deployment of 5G,
edge computing, and NFV.
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END
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