Actelis Networks raises $1.6 million through warrant exercise

Actelis Networks, Inc. (NASDAQ: ASNS) announced the exercise of outstanding warrants to purchase 4,270,197 shares of common stock for approximately $1.6 million in gross proceeds.

The warrants were originally issued between December 2023 and July 2024 with exercise prices ranging from $1.18 to $2.00 per share. The company agreed to a reduced exercise price of $0.37 per share for the immediate exercise. The transaction is expected to close on or about September 3, 2025.

As part of the agreement, Actelis will issue new unregistered warrants to purchase up to 6,405,296 shares of common stock at an exercise price of $0.37 per share. The new warrants will become exercisable upon stockholder approval, with 3,406,286 warrants expiring five years after approval and 2,999,010 warrants expiring within 24 months.

The company stated it plans to use the net proceeds for working capital and general corporate purposes. Rodman & Renshaw LLC and H.C. Wainwright & Co. are serving as financial advisors for the transaction.

The resale of shares from the original warrant exercise has been registered under effective Form S-1 registration statements. The new warrants have not been registered under the Securities Act of 1933 and may not be offered or sold without registration or applicable exemption.

Actelis Networks develops cyber-hardened networking solutions for IoT and broadband applications, serving government, military, utility, and telecommunications markets.

You May Also Be Interested In

• Smith Micro files two SEC registration statements for existing securities
• Avalanche Treasury Corporation (AVAT) files for 15.69M share offering by selling stockholders
• CORVEX (MOVE) files for 53.39M share offering by selling stockholders