NEWS
Actelis Announces Exercise of Warrants for $3 Million Gross Proceeds
Actelis Networks (NASDAQ:ASNS) has entered a definitive agreement for the immediate exercise of certain outstanding warrants, generating approximately $3 million in gross proceeds. These warrants, initially issued in May and September 2023, have an exercise price of $2.75 per share. H.C. Wainwright & Co. is acting as the exclusive placement agent for this offering, which is expected to close around June 6, 2024, subject to customary conditions. The proceeds will be used for general corporate purposes. Additionally, the company will issue new Series A-1 and A-2 unregistered warrants, each allowing the purchase of up to 999,670 shares at $2.00 per share, with terms of five and one-half years and twenty-four months, respectively.
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Maddtrinity : what does that mean?
Laurence john tawil : they made some money investing it and selling more shares at a set price
Maddtrinity Laurence john tawil : is that good for the stock? it sounds like they are adding 1m shares about
MoMoMula : Omg
Itscompleteshit Maddtrinity : Offering
73168262 Maddtrinity : Dilution
103788741 : Stocks will be diluted, which is not good news