Actelis Networks, Inc. (NASDAQ:ASNS) (“Actelis” or
the “Company”), a provider of cyber-hardened, rapid-deployment
networking solutions for wide-area IoT networks, today announced
the pricing of its initial public offering of 3,750,000 shares of
its common stock (the “Common Stock”) at a public offering price of
$4.00 per share, for aggregate gross proceeds of $15.0 million,
prior to deducting underwriting discounts, commissions, and other
offering expenses. Boustead Securities, LLC (“Boustead”) is acting
as the sole underwriter for the offering. The shares of Common
Stock are expected to begin trading on The Nasdaq Capital Market as
of today, May 13, 2022, under the symbol “ASNS”.
In addition, the Company has granted Boustead,
which acted as the sole underwriter for the offering, a 45-day
option to purchase an additional 562,500 shares of Common Stock at
the public offering price per share, less the underwriting
discounts and commissions, to cover over-allotments, if any. If
Boustead exercises the option in full, the total gross proceeds of
the offering, including overallotment, are expected to be
approximately $17.25 million before deducting underwriting
discounts and commissions and offering expenses.
The offering is expected to close on or about
May 17, 2022, subject to satisfaction of customary closing
conditions.
All of the shares of Common Stock are being
offered by Actelis. The Company intends to use the proceeds
primarily for research and development, sales and marketing,
general and administrative purposes, capital investments and
working capital.
A registration statement on Form S-1 (No.
333-264321) relating to the Common Stock sold in this offering was
declared effective by the Securities and Exchange Commission (the
“SEC”) on May 12, 2022. The offering is being made only by means of
a prospectus. Copies of the final prospectus may be obtained, when
available, on the SEC’s website, www.sec.gov, or by contacting
Boustead Securities, LLC, via email: offerings@boustead1828.com or
by calling +1 (949) 502-4408 or standard mail at Boustead
Securities, LLC, Attn: Equity Capital Markets, 6 Venture, Suite
395, Irvine, CA 92618, USA.
This press release shall not constitute an offer
to sell, or a solicitation of an offer to buy these securities, nor
shall there be any sale of, these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Actelis Networks,
Inc.
Actelis Networks is a market leader in
cyber-hardened, hybrid fiber-copper networking solutions for
wide-area IoT applications including federal, state and local
government, ITS, military, utility, rail, telecom and campus
applications. Actelis’ unique portfolio of hybrid fiber-copper,
environmentally hardened aggregation switches, high density
Ethernet devices, advanced management software and cyber-protection
capabilities, unlocks the hidden value of essential networks,
delivering safer connectivity for rapid, cost-effective
deployment.
For more information, please visit
www.actelis.com
Cautionary Statement Concerning
Forward-Looking Statements
This press release contains “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act and other securities laws. Words such as “expects,”
“anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates”
and similar expressions or variations of such words are intended to
identify forward-looking statements. For example, the Company is
using forward-looking statements when it discusses the expected
gross proceeds and the closing of the offering. Forward-looking
statements are not historical facts, and are based upon
management’s current expectations, beliefs and projections, many of
which, by their nature, are inherently uncertain. Such
expectations, beliefs and projections are expressed in good faith.
However, there can be no assurance that management’s expectations,
beliefs and projections will be achieved, and actual results may
differ materially from what is expressed in or indicated by the
forward-looking statements. Forward-looking statements are subject
to risks and uncertainties that could cause actual performance or
results to differ materially from those expressed in the
forward-looking statements. For a more detailed description of the
risks and uncertainties affecting the Company, reference is made to
the Company’s reports filed from time to time with the SEC,
including, but not limited to, the risks detailed in the Company’s
preliminary prospectus (Registration No. 333-264321), filed with
the SEC on May 10, 2022. Forward-looking statements speak only as
of the date the statements are made. The Company assumes no
obligation to update forward-looking statements to reflect actual
results, subsequent events or circumstances, changes in assumptions
or changes in other factors affecting forward-looking information
except to the extent required by applicable securities laws. If the
Company does update one or more forward-looking statements, no
inference should be drawn that the Company will make additional
updates with respect thereto or with respect to other
forward-looking statements. References and links to websites have
been provided as a convenience, and the information contained on
such websites is not incorporated by reference into this press
release. Actelis is not responsible for the contents of third-party
websites.
Contacts
For Underwriter Inquiries:
Boustead Securities, LLCPete Conley, Head of
Intellectual Property (IP) BankingTel: +1 310-383-7874Email:
pete@boustead1828.com
Investor Relations:
Matt Glover and Ralf EsperGateway Investor
Relations949-574-3860ASNS@gatewayir.com
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