Actelis Networks prices 1.27M shares at $1.18 in private placement

Actelis Networks has entered into definitive agreements for the purchase and sale of 1,271,187 shares of its common stock and warrants to purchase up to 1,271,187 shares of its common stock at a purchase price of $1.18 per share of common stock and associated warrant in a private placement priced at-the-market under Nasdaq rules. The warrants have an exercise price of $1.18 per share, will be exercisable commencing on the effective date of shareholder approval of the issuance of the shares issuable upon exercise of the warrants and will expire five and one-half years following the issuance. H.C. Wainwright & Co. is acting as exclusive placement agent for the offering. The gross proceeds to the Company are expected to be approximately $1.5 million. The offering is expected to close on or about December 20, 2023, subject to satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.