Ethernity Networks, a leading supplier of data processing offload solutions on programmable FPGA (field programmable gate array) for accelerating telco/cloud networks, is pleased to announce that trading in the Company’s ordinary shares will begin today on the OTCQB Venture Market (“OTCQB”) in the United States under the ticker symbol “ENETF”.
Trading on the OTCQB will have no direct impact on the trading of Ethernity’s existing ordinary shares on London’s AIM, which will continue to trade on AIM under the ticker “ENET”, and no new ordinary shares will be issued as part of the cross-trade.
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The OTCQB is recognized by the SEC as an established public market providing data that investors need to analyze, value and trade securities. Cross-trading on the OTCQB allows the Company access to one of the world’s largest investment markets to expand its reach into a broader pool of investors. Ethernity’s shares will be available to US investors during US working hours and priced in US dollars, which has the potential to enable greater liquidity in the Company’s ordinary shares on AIM by easing cross-border trading for potential US investors.
The Company has appointed Harbor Access, a US-based strategic investor relations firm to support the OTCQB quote. Harbor Access will assist management with investor outreach and awareness. “We are delighted to work with David and the Ethernity Networks team as we believe their technology offers a great investment opportunity for investors with an interest in the 5G space. The addition of the OTCQB quote will allow for greater transparency and disclosure for investors,” stated Jonathan Paterson, Managing Partner, Harbor Access.
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Ethernity has appointed B. Riley Securities, Inc. as its OTCQB Sponsor.
David Levi, CEO of Ethernity, said: “We are thrilled to begin trading on the OTCQB Market. This cross-trading facility provides an opportunity to open trading and investment in Ethernity to the North American investor community. Ethernity’s innovative and patented data processing semiconductor technology, which scales up to provide complete system solutions that utilize our data processing technology, allows customers to deploy innovative differentiated products in the 5G-driven market.
“We have strong sales growth with a high profile North American customer, as well as from the recently signed contracts leading into and beyond 2023, with further anticipated growth from additional possible contracts. We welcome the chance to share our fast-developing and exciting story on the US stage as well as the UK one.”
Jonathan Dickson, Vice President of Corporate Affairs, OTC said: “We are delighted to welcome Ethernity Networks Ltd to the OTCQB in the United States. With Ethernity’s primary listing remaining on London’s AIM, the OTCQB’s cross-trading facility will allow Ethernity to broaden its horizons.”
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