Why Actelis Networks (ASNS) Shares Are Trading Lower
Portfolio Pulse from Henry Khederian
Actelis Networks Inc (NASDAQ:ASNS) shares dropped by 14.3% to $1.98 after announcing a $2.25 million capital raise through warrant exercise and new warrants issuance. The company will issue new unregistered warrants to purchase up to 1,999,340 shares at $1.75 per share, exercisable immediately for 24 months. The net proceeds will be used for general corporate purposes.
July 01, 2024 | 4:30 pm
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Actelis Networks shares fell 14.3% following the announcement of a $2.25 million capital raise through warrant exercise and new warrants issuance. The net proceeds will be used for general corporate purposes.
The announcement of a capital raise through warrant exercise and new warrants issuance typically dilutes existing shares, leading to a drop in share price. The 14.3% decline reflects investor concerns about dilution and the company's need for additional capital.
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