Actelis Networks, which provides hybrid fiber-copper equipment solutions to telecom and IoT networks, announced terms for its IPO on Monday.
The Fremont, CA-based company plans to raise $15 million by offering 3 million shares at a price range of $4 to $6. At the midpoint of the proposed range, Actelis Networks would command a fully diluted market value of $82 million.
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 was founded in 1998 and booked $9 million in revenue for the 12 months ended December 31, 2021. The company plans to list on the Nasdaq under the symbol ASNS. Boustead Securities is the sole bookrunner on the deal. It is expected to price during the week of May 2, 2022.
