Actelis Networks Shares Down 31% in Trading Debut

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By Dean Seal

Actelis Networks Inc. shares fell 31% in the first few hours of their trading debut after the company raised about $15 million in an initial public offering priced at the low end of the projected range.

Shares were changing hands at $2.76 by midday Friday, below the IPO price of $4.

The networking solutions company sold 3.75 million shares in the offering. Earlier this month, it said that it would plan to sell 3 million shares at between $4 and $6 apiece.

Actelis, which offers hybrid fiber-copper solutions for bringing high-speed connections to hard-to-reach locations, said last month that it planned to use IPO proceeds to fund research-and-development efforts and for sales and marketing activities.

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