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FREMONT, California - Actelis Networks, Inc. (NASDAQ:ASNS) announced Friday that its Board of Directors has approved a one-for-ten reverse stock split of its common stock, scheduled to take effect before market open on November 18, 2025. The announcement comes as the company's stock trades at $0.43, having fallen nearly 68% year-to-date according to InvestingPro data.
Following the split, the company's shares will continue trading on the Nasdaq Capital Market under the same ASNS symbol but with a new CUSIP number 00503R 508.
The reverse split was approved by stockholders at a Special Meeting on November 7. The company stated the move aims to increase the per share price to regain compliance with Nasdaq's continued listing requirements and potentially attract institutional investors.
When the split takes effect, every 10 shares of outstanding common stock will convert to one share, reducing outstanding shares from approximately 17.5 million to 1.75 million. The authorized share count will remain unchanged.
The split will not affect stockholders' ownership percentages, except where fractional shares would result, which will be rounded up to the next whole number. Proportionate adjustments will be made to exercise prices and share counts for outstanding options and warrants.
Stockholders holding shares in book-entry form or through brokers do not need to take action. Those with physical certificates will receive exchange instructions from the company's transfer agent, VStock Transfer, LLC.
Actelis Networks develops hybrid fiber-copper networking solutions for IoT applications in government, transportation, military, utility, rail, telecom, and campus networks, according to the press release statement.
In other recent news, Actelis Networks Inc. has regained compliance with Nasdaq's stockholders' equity requirement for continued listing on The Nasdaq Capital Market. The company received formal notice from Nasdaq confirming that it met the equity standard under Listing Rule 5550(b)(1). However, Actelis Networks still faces the challenge of meeting the $1.00 minimum bid price requirement, with an extension granted until December 5, 2025. Additionally, Actelis Networks secured a significant order from a major utility company in Central Germany to supply its hybrid fiber-copper networking technology. This solution will enhance the utility's distribution infrastructure for water, gas, and electricity services. In another development, a local telecommunications carrier in Oklahoma ordered Actelis Networks' amplification solutions to improve broadband connectivity in underserved rural areas. These recent developments reflect Actelis Networks' ongoing efforts to strengthen its market position and maintain compliance with Nasdaq listing requirements.
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