Actelis Networks, Inc. (NASDAQ:ASNS) (“Actelis” or the “Company”) a market leader in cyber-hardened, rapid deployment networking solutions for wide area IoT applications, today announced that it received notice from The Nasdaq Stock Market (Nasdaq) on May 3, 2023 that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) for maintaining the listing of the shares of the Company’s common stock (the “Common Stock”) on the Nasdaq Global Capital Market.
On November 3, 2022, Actelis was notified by the Nasdaq Listing Qualifications that the Company was not in compliance, as its Common Stock failed to meet a closing bid price of $1.00 or more for 30 consecutive business days. The Company conducted a 1-for-10 reverse stock split of the shares of the Common Stock on April 18, 2023, to aid the compliance process.
To regain compliance, the Company’s common stock was required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive business days. This requirement was met on May 2, 2023.
