Actelis Networks Completes Private Placement Funding
Actelis Networks, Inc. (NASDAQ: ASNS) has successfully closed its latest private placement, a significant achievement that marks a critical milestone for the company. Known for its state-of-the-art cyber-hardened networking solutions, Actelis focuses on rapid deployment for IoT and broadband applications.
Details of the Private Placement
The private placement involved the issuance and sale of 1,626,019 shares of common stock, accompanied by Series A-3 warrants to purchase an equivalent number of shares. Additionally, short-term Series A-4 warrants were issued, which can be exercised for up to 3,252,038 shares of common stock. The pricing for these securities was set at $0.615 per share.
Warrant Details and Expiration
The exercise price for the warrants also stands at $0.615 per share. Shareholders have the opportunity to exercise these warrants commencing from the effective date of shareholder approval regarding the issuance of shares linked to these warrants. The Series A-3 warrants will remain valid for five years following shareholder approval, while the Series A-4 warrants will expire within eighteen months after that approval.
Financial Impact and Use of Proceeds
Actelis Networks anticipates gross proceeds of approximately $1 million from this offering, before any deductions for placement agent fees and other associated expenses. Should the warrants be fully exercised, the company could see an additional gross amount of around $3 million. Actelis plans to allocate these net proceeds toward working capital and other corporate purposes.
Role of H.C. Wainwright & Co.
H.C. Wainwright & Co. served as the exclusive placement agent for the offering, playing a vital role in helping facilitate this transaction for Actelis Networks.
About Actelis Networks, Inc.
Actelis Networks, Inc. is a recognized leader in providing hybrid fiber-copper networking solutions that cater specifically to rapid deployment needs in wide-area IoT applications. These solutions are suitable for various sectors, including government, military, utilities, rail transport, and telecom networks. Actelis' unique offerings combine the performance of fiber with the cost-effectiveness of hybrid networks. Additionally, their Cyber Aware Networking initiative enhances security for edge devices through AI-driven monitoring.
Contact Information
For further details, interested parties can reach out to ARX | Capital Markets Advisors, North American Equities Desk at actelis@arxadvisory.com.
Frequently Asked Questions
What is the significance of the private placement for Actelis Networks?
The private placement provides critical funding that supports Actelis Networks’ continuing growth and development in the rapidly evolving IoT and broadband markets.
How does Actelis Networks utilize its funding?
The proceeds from the private placement will primarily be used for working capital and general corporate purposes to bolster business operations.
What types of securities were offered in the private placement?
The offering included common stock shares and warrants that grant the right to purchase additional shares at specified terms.
Who acted as the placement agent for this offering?
H.C. Wainwright & Co. was the exclusive placement agent involved in the transaction.
What are Actelis’ key markets and applications for its products?
Actelis focuses on markets such as government, utilities, military, and telecommunications, providing robust networking solutions tailored for wide-area IoT applications.
