Actelis Networks Announces New $1.5 Million Credit Line
Actelis Networks, Inc. (ASNS)
Last actelis networks, inc. earnings: 11/9 08:00 am
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US:NASDAQ Investor Relations:
investors.arsanis.com/investor-relations
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Source: GlobeNewswire
FREMONT, Calif., Feb. 07, 2024 (GLOBE NEWSWIRE) -- Actelis Networks, Inc. (NASDAQ:ASNS) (“Actelis” or the “Company”) a market leader in cyber-hardened, rapid deployment networking solutions for IoT applications, today announced the closing of a new credit line facility. The accounts receivable credit line from an Israeli bank of up to $1.5 million increases the Company’s operating cash while not increasing the Company’s total debt, as the Company will perform an early repayment of its existing debt using its restricted cash in a similar amount. The new credit line will be secured by customer invoices and will incur interest at a Federal SOFR rate plus 5.5% and is available until the end of 2024, with possible extension. At the same time, Actelis plans to perform a partial early repayment of its existing debt facility at an amount equal to the amount of funding from the new credit line, therefore leaving the total debt amount at a similar level. Yoav Efron, Chief Financial Officer
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ASNS
Sec Filings
- 5/2/24 - Form 8-K
- 4/3/24 - Form EFFECT
- 4/2/24 - Form 424B3
- ASNS's page on the SEC website