Actelis Networks Completes Successful Private Placement for Growth
Actelis Networks Successfully Closes Private Placement
Actelis Networks, Inc. (NASDAQ: ASNS), a prominent player in cyber-hardened and rapid deployment networking solutions for Internet of Things (IoT) and broadband applications, recently completed a successful private placement. This strategic move involves the issuance of shares and warrants to bolster its operational capabilities.
Details of the Private Placement
The company issued a total of 1,626,019 shares of common stock, accompanied by Series A-3 warrants to acquire the same number of shares, along with short-term Series A-4 warrants enabling the purchase of up to twice that number of shares. The placement was executed at a compelling purchase price of $0.615 per share. This action reflects Actelis' commitment to enhancing shareholder value while ensuring adequate funding for growth initiatives.
Financial Overview
Gross proceeds from this offering reached approximately $1 million, with the prospect of generating an additional $3 million from the potential exercise of the warrants, should they be fully utilized. The funds obtained will primarily support working capital and general corporate needs, sustaining the company’s efforts towards expanding its innovative networking solutions in the rapidly evolving market of IoT.
The Role of H.C. Wainwright & Co.
H.C. Wainwright & Co. played a vital role as the exclusive placement agent for this offering. Their expertise and guidance have been instrumental in navigating the transaction, ensuring that Actelis Networks can mobilize resources for its ambitious goals.
Warrant Exercise Details
The offered warrants come with an exercise price equivalent to the share purchase price, and they are set to become exercisable on the date shareholders approve the corresponding shares. The Series A-3 warrants are designed to be valid for five years post-approval, while the Series A-4 warrants offer a shorter, eighteen-month exercise window.
Understanding the Securities Offerings
It is important to note that the securities provided in this placement were conducted under designated sections of the Securities Act of 1933 and certain regulatory regulations. Specifically, the offering is aimed at accredited investors and has not undergone registration with the SEC. This underlines the selective nature of the offering and emphasizes Actelis’ adherence to regulatory standards.
Future Prospects and Shareholder Engagement
As part of its commitment to transparency, Actelis Networks has agreed to file registration statements with the SEC, aiming for seamless resale of unregistered securities in the future. This is a crucial step toward maintaining trust and engagement with its shareholders.
About Actelis Networks, Inc.
Actelis Networks, Inc. is recognized as a market leader in providing hybrid fiber-copper networking solutions. Their products are characterized by a unique blend of cyber-hardening and rapid deployment capabilities tailored for a wide array of environments, including governmental, military, utility, and telecommunications applications. The company prides itself on delivering performance equivalent to fiber while maintaining the cost-effectiveness associated with hybrid solutions.
Cyber-Aware Networking Initiative
In addition to its hardware innovations, Actelis is pioneering initiatives focused on AI-based cyber monitoring. This forward-thinking strategy enhances the resilience and security of networked devices, crucial in today's digital landscape where cybersecurity threats are prevalent.
Frequently Asked Questions
What is the purpose of the private placement?
The private placement aims to secure funds to support Actelis Networks' ongoing operations and expand its innovative networking solutions.
Who acted as the placement agent for the offering?
H.C. Wainwright & Co. served as the exclusive placement agent for Actelis Networks during this private placement.
What are the details of the warrants offered?
The offering included Series A-3 and short-term Series A-4 warrants, allowing shareholders to purchase common stock at a price of $0.615 per share.
How will the funds from this placement be used?
The net proceeds will be utilized as working capital for general corporate purposes, thereby supporting the company's growth strategy.
What are Actelis Networks' key market applications?
Actelis Networks provides networking solutions across various markets, including government, military, utility, rail, telecom, and campus networks, enhancing infrastructure with advanced technology.
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