Actelis Networks, Inc. (ASNS) has released an update.
Actelis Networks Israel, Ltd. has secured a $1.5 million credit facility from Bank Mizrahi-Tefahot, which is backed by the company’s customer invoices and carries an annual interest rate of SOFR plus 5.5%. The facility has provisions regarding the maximum credit allowed, invoice payment timeframes, and customer concentration limits. Additionally, Actelis has renegotiated terms with Migdalor Business Investments Fund to allow for the new facility’s security preferences, including a partial loan repayment. This move enables Actelis to better leverage its invoices for financial flexibility until the facility’s expiration in December 2024.
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