Ethernity Networks Ltd (AIM:ENET, OTCQB:ENETF) is raising £540,000 through a placing at 0.3p with a warrant attached exercisable at 0.75p over the next 18 months.
David Levi, chief executive, is also subscribing for a further £27,000 worth of shares at the placing price.
Levi said: “Over the past several months we have been engaged in discussions with two Tier-1 wireless backhaul equipment vendors.
“Both vendors have prior experience with Ethernity's technology, and one has been successfully testing our UEP solution for the past nine months."