Actelis Networks (ASNS) stock jumps 186% as Caltrans order meets new reverse-split vote
Actelis Networks Inc shares rocketed Wednesday, closing nearly three times higher at $0.5393. Trading volume soared, snapping the microcap out of its recent downturn. Actelis, in a definitive proxy statement filed March 4, put two proposals in front of shareholders for an April 13 vote: one to authorize further share issuance via an equity line of credit agreement with White Lion Capital, the other to grant the board discretion for a reverse stock split—anywhere from 1-for-10 up to 1-for-25. The company characterizes both moves as urgent, each part of its attempt to stave off a Nasdaq delisting over the $1 minimum bid price rule. The proxy notes the sale of new stock may be priced below where shares are trading now, which could mean dilution for those already holding the stock.
