RE: 5g subscription30 Sep 2022 02:39
Following the c.£4.6m placing in September 2021, the Company is already sufficiently funded to complete the planned transition towards mass production of the Company UEPs and ACE-NIC for 5G and wireless infrastructure, and has now taken the opportunity to secure additional funding on attractive terms (more favourable to the Company than those of 5G Fund's previous investment in the Company, which now includes a price per share protection mechanism for the Company), to further extend the Company's market presence in the programmable system platform market and to enable the processing of larger orders by the Company.
ENET's CEO, David Levi, commented: "This further funding allows us to accelerate completing the transition towards mass production of the Company UEPs and ACE-NIC and provides an increased cash buffer for the Company."