StockMarketWire.com - Ethernet adapter cards supplier Ethernity detailed plans to raise £780K through the placing and subscription of shares at a discount.

The company placed 6.5m shares at a price of 12p per share, representing a discount of 37%, to raise gross proceeds of £780K before expenses.

The net proceeds of the fundraising of approximately £728K would be used to strengthen the balance sheet, to 'allow the company to support the growing number of engagements for its 5G offering towards successful field deployments, and for general working capital purpose,' Ethernity said.




At 8:20am: [LON:ENET] Ethernity Networks Ltd share price was -2.5p at 16.5p



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