Actelis Networks closes $1M private placement of common stock and warrants

ACTELIS NETWORKS INC

Offered 1,626,019 shares of common stock at $0.615 per share plus Series A-3 and A-4 warrants to purchase up to 4,878,057 shares.
Gross proceeds approximately $1M; potential additional $3M if warrants fully exercised on a cash basis.
Warrants exercisable at $0.615 per share pending shareholder approval; Series A-3 expire in 5 years, Series A-4 in 18 months.
H.C. Wainwright & Co. acted as exclusive placement agent, receiving 7.0% cash fee and 113,821 placement agent warrants.
Proceeds to be used for working capital and general corporate purposes.

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