FREMONT, Calif., Dec. 20, 2023 (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 closing of its previously announced private placement, priced at-the-market under Nasdaq rules, of 1,271,187 shares of its common stock (or common stock equivalents) and warrants to purchase up to 1,271,187 shares of its common stock at a purchase price of $1.18 per share of common stock (or common stock equivalent) and associated warrant. The warrants have an exercise price of $1.18 per share, will be exercisable commencing on the effective date of shareholder approval of the issuance of the shares issuable upon exercise of the warrants and will expire five and one-half years following the issuance.

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