Ottawa tech firm Edgewater Wireless says it’s raised $2 million in a private placement to help it scale up and fulfill orders from several large customers.
The local firm, which provides high-density Wi-Fi networks, has recently landed contract wins with U.S. grocery chain Kroger as well as cable TV company Mediacom Communications.
“We’re excited to ramp production and manufacturing to ensure we have a robust supply chain,” said Andrew Skafel, Edgewater’s president and CEO, in a statement.
OBJ360 (Sponsored)
Why it is vital to register your trademark—and what can happen if you do not
When an aesthetic nurse in Kitchener-Waterloo named her new business “Kraftwurk,” it was partly an homage to the region’s rich German heritage. But she likely did not realize it would
93 Norman offers convenience, comfort, and community in Ottawa
With easy access to some of Ottawa’s best restaurants, miles of bike paths and a modern, brand-new living space, Taggart Realty Management is adding to the city’s rental accommodation inventory
The non-brokered private placement consists of 12.5 million shares priced at 16 cents per unit. Edgewater has engaged Echelon Wealth Partners as a financial advisor in connection with the offering, which is scheduled to close by the week of Aug. 10.
The company’s stock price was down 1.5 cents to 16 cents per share in early Wednesday afternoon trading on the TSX Venture Exchange.
