Ethernity Networks Ltd (AIM:ENET) said 5G Innovation Leaders Fund LLC is to invest US$2mln into the company.
The US-based institutional investor, already a significant shareholder in the company, is backing the supplier of networking processing technology as it plans to scale up so it can process larger orders.
Ethernity said the terms of the share subscription announced today are more favourable for the company than 5G Fund’s previous cash injection, with 5G Fund paying US$2mln for new shares that are valued at US$2.06mln.