Actelis Announces Exercise of Warrants for $2.25 Million Gross Proceeds
FREMONT, Calif., July 01, 2024 (GLOBE NEWSWIRE) — Actelis Networks, Inc. (NASDAQ:ASNS) (“Actelis” or the “Company”), a market leader in cyber-hardened, rapid deployment networking solutions for IoT applications, today announced the entry into a definitive agreement for the immediate exercise of certain outstanding Series A-2 warrants to purchase up to an aggregate of 999,670 shares of common stock of the Company originally issued in June 2024 having an exercise price of $2.00 per share. The shares of common stock issuable upon exercise of the warrants are registered pursuant to an effective registration statement on Form S-1 (No. 333-280434). The gross proceeds to the Company from the exercise of the warrants are expected to be approximately $2.25 million, prior to deducting placement agent fees and estimated offering expenses.