Actelis Networks (ASNS) Prices 3.75M Share IPO at $4/sh

May 13, 2022 7:31 AM EDT
Get Alerts ASNS Hot Sheet
Price: $1.51 -5.03%

Overall Analyst Rating:
    NEUTRAL (= Flat)

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Actelis Networks, Inc. (NASDAQ: ASNS) 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: [email protected] 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.



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