Actelis Networks Announces Closing of Private Placement Priced At-the-Market under Nasdaq Rules

Company Overview - Actelis Networks, Inc. is a market leader in cyber-hardened, rapid deployment networking solutions for IoT and broadband applications [1][6] - The company specializes in hybrid fiber-copper networking solutions, providing fiber-grade performance with cost-efficiency [6] Private Placement Announcement - Actelis announced the closing of a private placement for the issuance and sale of 1,626,019 shares of common stock and associated warrants [1] - The purchase price for the shares and warrants was set at $0.615 per share [1][2] Financial Details - The aggregate gross proceeds from the offering were approximately $1 million, with potential additional gross proceeds of about $3 million from the warrants if fully exercised [3] - The Series A-3 warrants will expire five years from shareholder approval, while the short-term Series A-4 warrants will expire in eighteen months [2] Use of Proceeds - The company intends to use the net proceeds from the offering as working capital for general corporate purposes [3] Regulatory Information - The securities were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933 and Regulation D, and have not been registered under the Act [4]