Actelis Networks (ASNS) Announces New Orders Accelerating US Military Momentum and Exercise of Warrants For $3M Gross Proceeds

The cyber-hardened rapid deployment networking for IoT solutions company Actelis Networks, Inc. (ASNS), has announced the receipt of new orders that will supply three military bases with cyber hardened networking technology which will further its momentum with US military.

These additional orders were obtained shortly after Actelis’ recent accomplishment related to its successful cybersecurity certifications and placement on the Department of Defense Information Network approved products list.

“We have invested significant resources on achieving these critical government security certifications,” said Tuvia Barlev, Chairman and CEO of Actelis. “We are very pleased to see that those efforts are resulting in new orders and a strong pipeline for our federal market segment.”

Furthermore, the company also announced the exercise of warrants for $3M in gross proceeds. Actelis’ entry into the definitive agreement is for the immediate exercise of certain outstanding warrants to purchase up to an aggregate of 999,670 shares of common stock of the Company originally issued in May 2023 and September 2023 having an exercise price of $2.75 per share. The exercise of these warrants are estimated to be $3M before fees and expenses. The company will use the proceeds as working capital for general corporate purposes. The offering is expected to close on or about June 6, 2024, subject to satisfaction of customary closing conditions.

About Actelis Networks, Inc.

Actelis Networks, Inc. (NASDAQ: ASNS) is a market leader in cyber-hardened, rapid-deployment 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, 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.

 

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Actelis Networks (ASNS) Announces New Orders Accelerating US Military Momentum and Exercise of Warrants For $3M Gross Proceeds

Ashlee Vogenthaler

Markets Editor