Actelis Networks, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Ipo

Ipo

3 Months Ended

Mar. 31, 2022

Industry-Specific Policies [Abstract]

NOTE 12 – IPO:

On May 17, 2022, the Company finalized its IPO, offering of an aggregate of 4,212,500 shares of common stock, including the partial exercise by the underwriter of its option to purchase 462,500 additional shares of common stock, at a price to the public of $4.00 per share.

The net proceeds from the offering, including the over-allotment, to the Company were approximately $15.4 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company.

As a result of the IPO, the Company issued common stock as described below:

Conversion of the convertible loan agreement -the Company issued 1,638,161 shares of common stock.

Convertible preferred stock - the Company issued 7,731,083 common stock (on a one (1) for one (1) basis).

Conversion of Warrants:

The Company issued 180,000 shares of common stock to Migdalor as part of the loan agreement with Migdalor.

The Company issued 617,567 shares of common stock to Mizrahi-Tefahot Bank.

Convertible notes granted in the Company’s offering during December 2021 and March 2022 the Company issued 900,096 shares of common stock.

The Company redeemed 1,783,773 shares of non-voting common stock for their par value.