Actelis Networks, which provides hybrid fiber-copper equipment solutions to telecom and IoT networks, raised $15 million by offering 3.8 million shares at $4, the low end of the range of $4 to $6. The company offered 0.8 million more shares than anticipated.
The company utilizes signal-processing technology and system architecture to upgrade existing copper/coax wires by integrating them with new fiber installations and creating a complete hybrid-fiber-copper network. Its products and solutions have been deployed with more than 100 telecommunication service providers worldwide, in enterprise, residential, and mobile base station connectivity applications.
Actelis Networks plans to list on the Nasdaq under the symbol ASNS. Boustead Securities acted as sole bookrunner on the deal.
