Facts and opinions."Arm Flexible Access provides up-front, no-cost or low-cost access to a wide range of Arm IP, tools, and training. Experiment and design with the entire portfolio; license fees, if any, are only due at the point of manufacture and calculated only on the IP included in the final SoC design."
Anyone with a product and even startups with no product, can join this program. In fact even Microsoft is manufacturing ARM architecture chips.
Edgewater claims to be a startup, but also they have no money so we can safely assume they are in the most basic program. They want to make their product compatible with ARM Architecture and if they are successful they still have to make their own product and pay to license the ARM architecture.
Current competition are Silicon Labs and Broadcom, but there are many who have been developing these SoC Mx WiFi devices for a couple of decades. So has not being ARM compatible been holding Edgewater back? I don't see how. Will it help them going forward? Maybe, but if you haven't been able to sell your super duper WiFi for the current standalone market (we can assume they were compatible with x86 architecture for the last 13 years), then will being compatible for ARM with SoC devices help their current situation much? I'll leave that up to you to decide.
Throwing arount big names is a thing for all Venture companies do to associate with bigness. This was right up there. From the trading I think even the biggest risk takers people will still still crossing their fingers and toes for the next several months. JMO.