Actelis announces exercise of warrants for $3 million gross proceeds

Fremont, calif., june 05, 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 warrants to purchase up to an aggregate of 999,670 shares of common stock of the company originally issued in may 2023 and september 2023 having an exercise price of $2.75 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. 333-276425). the gross proceeds to the company from the exercise of the warrants are expected to be approximately $3 million, prior to deducting placement agent fees and estimated offering expenses.
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