© Reuters. Actelis Networks (ASNS) IPO Opens Modestly Lower
Today’s IPO for Actelis Networks, Inc. (ASNS) opened for trading at $3.90 after pricing 3,750,000 shares at $4 per share, and sold off to $2.89/share in early morning trading.
Boustead Securities, LLC was the the sole underwriter for the offering.
Actelis Networks is a market leader in cyber-hardened, hybrid fiber-copper networking solutions for wide-area IoT applications including federal, state and local government, ITS, military, utility, rail, telecom and campus applications. Telecom companies amounted to 48% of Actelis’s revenue in 2021.
$4 was the low end of the price range Actelis aimed to go to market with. At the $3.9 opening price, Actelis was valued at 6.3x EV/2021 Sales.
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