Israeli telecoms equipment company Actelis Networks has filed a prospectus with the US Securities and Exchange Commission (SEC) for an Initial Public Offering (IPO) on Nasdaq. The company, which was founded 24 years ago, did not disclose any details about the size and value of the offering although the amount raised is not expected to be large. Boustead Securities is serving as the underwriter for the IPO.
Actelis Networks is incorporated in the US but its founder and CEO Tuvia Bar Lev is Israeli and 27 of its 44 employees are in Israel.
The company provides high performance, scalable broadband over copper solutions to telcos, mobile and IoT networks, which are designed to allow fast, safe and efficient communications that create a hybrid network. Actelis focuses on several markets including smart transport, railways, the US federal and military market, airports, smart cities and more .According to the prospectus, the company’s systems are installed in networks in Los Angeles and the US Federal Aviation Authority.
According to IVC Research, Actelis Networks has raised $137 million to date, with its most recent financing round completed in 2016.
The data in the prospectus reveals that Actelis had revenue of $8.5 million in 2021, unchanged from 2020. The company’s net loss in 2021 widened to $5.3 million from $1.5 million in 2020, as expenditure grew.
Published by Globes, Israel business news – en.globes.co.il – on April 17, 2022.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
