Actelis Networks prices 1.6M shares at 61.5c in private placement

Actelis Networks (ASNS) has entered into definitive agreements for the issuance and sale of 1,626,019 shares of its common stock, Series A-3 warrants to purchase up to an aggregate of 1,626,019 shares of common stock and short-term Series A-4 warrants to purchase up to an aggregate of 3,252,038 shares of common stock, at a purchase price of $0.615 per share and associated warrants in a private placement priced at-the-market under Nasdaq rules. The warrants will have an exercise price of $0.615 per share and will be exercisable commencing on the effective date of shareholder approval of the issuance of the shares issuable upon exercise of the warrants. The Series A-3 warrants will expire five years from the date of shareholder approval and the short-term Series A-4 warrants will expire eighteen months from the date of shareholder approval. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The aggregate gross proceeds to the Company from the offering are expected to be approximately $1M, before deducting placement agent fees and other offering expenses. The offering is expected to close on or about July 2, 2025, subject to the satisfaction of customary closing conditions. The potential additional gross proceeds to the Company from the warrants, if fully-exercised on a cash basis, will be approximately $3M. The Company intends to use the net proceeds from the offering as working capital for general corporate purposes.