Edgewater Wireless Completes First Close of Private Placement with Strategic Investor and Silicon Catalyst Support

Edgewater Wireless Systems Inc., a pioneer in AI-powered Wi-Fi Spectrum Slicing silicon solutions, announced the first closing of its non-brokered private placement, raising gross proceeds of approximately $429,353 through the issuance of 7,155,879 units at $0.06 per unit. The financing includes participation from a strategic investor in the global semiconductor industry, alongside additional investors from the Silicon Catalyst ecosystem, reflecting growing Silicon Valley support for Edgewater's patented technology and product roadmap.

Each unit consists of one common share and one warrant exercisable at $0.09 per share for two years. Management also participated, acquiring 1,000,000 units for $60,000, which constitutes a related party transaction under MI 61-101, relying on exemptions from formal valuation and minority approval requirements. The company intends to use net proceeds for semiconductor design, engineering, and product development for its Spectrum Slicing prototype, as well as general working capital.

Edgewater's Spectrum Slicing platform, delivered through the PrismIQ product family, enables multiple concurrent channels within a single Wi-Fi band, reducing congestion and latency while improving reliability. This technology is critical for applications in service provider networks, autonomous systems, and critical communications infrastructure. Andrew Skafel, President and CEO, stated that the support from a strategic investor and Silicon Catalyst validates the technology and confidence in the strategic plan.

Edgewater is a Silicon Catalyst portfolio company, a program supporting early-stage semiconductor startups. The company's focus on high-reliability, low-latency wireless connectivity addresses growing demand for deterministic performance in environments where network failure is not an option. The private placement's first close marks an execution milestone, with additional tranches possible subject to market conditions and regulatory approvals.

Securities issued in the first tranche are subject to a four-month statutory hold period. A cash commission of $2,478 and 41,300 finder's warrants were paid to an arm's length finder in connection with the offering.