Actelis announces closing of exercise of warrants for $3 million gross proceeds

Fremont, calif., june 06, 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 closing of its previously announced 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 issued 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 were approximately $3 million, prior to deducting placement agent fees and estimated offering expenses.
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