FREMONT, Calif., July 02, 2024 (GLOBE NEWSWIRE) -- Actelis Networks, Inc. (NASDAQ:ASNS) ("Actelis" or the "Company"), a market leader in cyber-hardened, rapid deployment networking solutions for IoT applications, today announced the closing of its previously announced exercise of certain outstanding Series A-2 warrants to purchase up to an aggregate of 999,670 shares of common stock of the Company originally issued in June 2024 having an exercise price of $2.00 per share. The shares of common stock issued upon exercise of the warrants are registered pursuant to an effective registration statement on Form S-1 (No. 333-280434). The gross proceeds to the Company from the exercise of the warrants were approximately $2.25 million, prior to deducting placement agent fees and estimated offering expenses. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering. In consideration for the immediate exercise of the warrants for cash and the payment of additional $0.125 per new unregistered warrant (additional $249,917.50 in the aggregate, which are included in the gross proceeds to the Company), the Company issued new unregistered warrants to purchase up to 1,999,340 shares of common stock. The new warrants have an exercise price of $1.75 per share and are immediately exercisable upon issuance and will have a term of twenty-four months from the issuance date. The Company intends to use the net proceeds from the offering as working capital ...