Ethernity Networks Ltd (AIM:ENET, OTCQB:ENETF) announced it has entered into a structured investment deed which will see up to £800,000 of gross investment into the company.
Proceeds are earmarked for general working capital purposes.
The structured investment, New Technology Capital Group, will be executed through a contingent warrant exercisable over new ordinary shares.
It would see 40,000 new shares priced at 1p for a period of 45 days, and subsequently priced via calculation tied to volume-weighted average prices.
"We are pleased to announce the successful conclusion of this transaction,” chief executive David Levi said in a statement.
“We have strong confidence in the company's future prospects, anticipating a rise in the company's value as we embark on strategic initiatives."