Actelis Networks announces new $1.5M credit line

Actelis Networks announced the closing of a new credit line facility. The accounts receivable credit line from an Israeli bank of up to $1.5M increases the Company’s operating cash while not increasing the Company’s total debt, as the Company will perform an early repayment of its existing debt using its restricted cash in a similar amount. Yoav Efron, Chief Financial Officer of Actelis stated, “We are pleased to announce this new credit line agreement as it increases operating cash while we continue to pursue our business plan, and it does not increase our total debt since we will partially repay our existing loan using our restricted cash.”