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Edgewater Wireless Private Placement FAQ
Edgewater Wireless announced the first close of a strategic investor-led private placement, raising approximately $429,353 to advance its Spectrum Slicing technology and product roadmap. This milestone reflects growing industry support, particularly from the Silicon Valley ecosystem.
The proceeds will be used for semiconductor design, engineering, and product development related to Edgewater’s Spectrum Slicing prototype, as well as general working capital.
The first close raised gross proceeds of approximately $429,353 through the issuance of 7,155,879 units at $0.06 per unit.
Participants include a strategic investor from the global semiconductor industry, additional investors from the Silicon Catalyst ecosystem, and company insiders (who purchased 1,000,000 units for $60,000).
Each unit consists of one common share and one warrant to purchase an additional common share at $0.09 per share for two years from closing.
It reflects growing industry interest and validation of Edgewater's Spectrum Slicing technology and strategic execution plan, particularly from the Silicon Valley semiconductor ecosystem.
The offering is subject to final acceptance by the TSX Venture Exchange.
Yes, insider participation constitutes a related party transaction under MI 61-101, but the company is relying on exemptions as the fair market value does not exceed 25% of market capitalization.
A cash commission of $2,478 (7% of gross proceeds from finder-introduced subscribers) and 41,300 finder's warrants (exercisable at $0.09 for 24 months) were issued.
Yes, all securities issued are subject to a statutory hold period of four months from the date of issuance.