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Edgewater Wireless Closes First Tranche of Previously Declared $2.5M Private Placement

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Wireless Backhaul Industry News.

November 26, 2012

Edgewater Wireless Closes First Tranche of Previously Declared $2.5M Private Placement

By Shankar Pandiath
TMCnet Contributor


Edgewater Wireless, a global leader in Wi-Fi3 next-generation Wi-Fi technology, recently announced the closing of its first tranche of previously declared $2.5-million private placement. As reported by company officials, Edgewater Wireless will use this $2.5-million private placement investment in part to increase the production and performance of orders related to its recent $4.9-million sale of Wi-Fi3 access points to the World Affinity Telecom.

This new sale initiated multi-phase deployment of their advanced Wi-Fi3 access points across Central and Western Africa.

Edgewater Wireless’ advanced access point solutions integrate seamlessly with Wi-Fi3, and deliver state-of-the-art, next-generation solutions that meet the accelerating demand for reliability, cost effectiveness, and robust high-capacity data networking across wireless communications – one of the most rapidly growing industries in the world.

Key features of Wi-Fi3 access point solutions are:

  • Lower cost of deployment which reduces Capital Expenditure
  • Exponential throughout capacity when compared to single channel access points
  • Utmost flexibility with multiple virtual channels and 3-channel advantage
  • Powerzoning, which maximizes the coverage and bandwidth density in a given area, improving the ability to support different applications
  • Unparalleled security system
  • Improved QoS with high spectral surveillance
  • TruMesh seamless mesh networks

The next-generation Wi-Fi3 technology has the potential to solve key issues pertaining to quality, interference and capacity that different users experience from time to time, using conventional Wi-Fi access points. With a dramatic growth of Wi-Fi usage across the world, such problems have arisen significantly. Considering these issues, Wi-Fi3 technology allows the users to access at least three channels on a single wireless access point radio, enabling intrinsically enhanced quality and speedier downloads. This is much unlike the conventional Wi-Fi networks, which allows only a single channel per radio.

Upon closing its first tranche, Edgewater Wireless issued 11,389,043 units in an aggregate, at a price of $0.0825 per unit, increasing the gross proceedings of $939,596. Each of these units comprise a single common share of Edgewater and a warrant that entitles the holders to buy an extra common share of the company for a time of 24 months from closing – and at an excise price of $0.11 per share.

The warrants and common shares issued to the subscribers to first tranche of private placement are subject to a statutory hold period that ends March 21, 2013.

“This investment is an integral part of our growth strategy as demand for Edgewater Wireless’ WiFi3 technology increases globally,” said Andrew Skafel, president of Edgewater Wireless. “This investment demonstrates a clear belief in the huge market opportunity for Edgewater Wireless at a time when we are witnessing unprecedented growth and adoption of Wi-Fi technology around the world.”

Edgewater Wireless is an iconic developer and distributor of intellectual property and cutting-edge technologies for the communications market. The company delivers next-generation product solutions to meet high-quality services, high-performance and high-reliability demands of service providers and their customers. 

Want to learn more about the impact and potential future of White Spaces? Then be sure to attend the Super Wi-Fi Summit, collocated with ITEXPO Miami 2013, Jan 29- Feb. 1 in Miami, Florida.  Stay in touch with everything happening at Super Wi-Fi Summit. Follow us on Twitter.

Edited by Braden Becker

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