Actelis Networks Expands ATM Offering by $1.3 Million

Actelis Networks Inc. (NASDAQ:ASNS), a communications equipment company with a market capitalization of $6.24 million, announced on Monday an increase in its at-the-market (ATM) offering. According to InvestingPro analysis, the company maintains a positive cash position relative to debt, though it’s currently experiencing rapid cash burn. According to a Securities and Exchange Commission (SEC) filing, the company, based in Fremont, California, is now authorized to offer an additional $1.3 million of its common stock.

The expansion of the ATM offering is pursuant to an existing agreement with H.C. Wainwright & Co., LLC, dated September 25, 2024. Actelis Networks initially filed a shelf registration statement on Form S-3 on September 18, 2024, which was declared effective by the SEC a week later. The offering will be conducted under the same registration statement, supplemented by a prospectus supplement filed on March 3, 2025.

The sale of shares will be made following the Current Prospectus Supplement, which complements the original prospectus dated September 25, 2024. The company’s legal counsel, Greenberg Traurig, LLP, has provided an opinion regarding the legality of the share sales under the Offering Agreement, which is included as an exhibit in the SEC filing.

This move by Actelis Networks is part of its strategy to raise additional capital through the sale of its common stock in the open market. The ATM offering allows the company to sell shares over time, providing flexibility in managing its capital needs.

Actelis Networks, incorporated in Delaware with a fiscal year-end of December 31, specializes in communication equipment. The company’s common stock is listed on the Nasdaq Capital Market under the ticker symbol ASNS. Recent InvestingPro data shows the company achieved 8.3% revenue growth in the last twelve months, with analysts projecting continued sales growth. Discover 8 more exclusive InvestingPro Tips and comprehensive financial metrics to make informed investment decisions.

The information for this article is based solely on the SEC filing and does not include any speculative content regarding the company’s future performance or market position. The SEC filing provides all the details regarding the ATM offering expansion and the associated legal documentation.

In other recent news, Actelis Networks, Inc. has announced several developments that could impact its strategic direction and financial performance. The company has launched MetaShield, a new cybersecurity solution aimed at enhancing network security and operational continuity within IoT and critical infrastructure networks. This product is expected to generate additional recurring revenue streams and differentiate Actelis’ offerings in the market. In a move to strengthen its governance, Actelis has appointed Julie Kunstler as an independent director to its Board of Directors. Kunstler brings over thirty years of experience in communications technology and strategic corporate positioning, which is anticipated to support the company’s growth and strategic direction.

Additionally, Actelis has received a follow-on order from a Hungarian utility to modernize its communications infrastructure, reinforcing the company’s role in enhancing secure data transmission for critical infrastructure. This order builds on a previous engagement from October 2023 and underscores the ongoing trust in Actelis’ cyber-hardened networking solutions. The company’s focus on network security is further emphasized through its "Cyber Aware Networking" initiative, which integrates AI-based cyber monitoring and protection for edge devices. Actelis continues to expand its portfolio and board expertise to address the growing demand for secure, broadband access networking solutions.

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