Actelis Networks, Inc. announced the closing of a new credit line facility. The accounts receivable credit line from an Israeli bank of up to $1.5 million increases the Company?s operating cash while not increasing the Company?s total debt, as the Company will perform an early repayment of its existing debt using its restricted cash in a similar amount. The new credit line will be secured by customer invoices and will incur interest at a Federal SOFR rate plus 5.5% and is available until the end of 2024, with possible extension.

At the same time, Actelis plans to perform a partial early repayment of its existing debt facility at an amount equal to the amount of funding from the new credit line, therefore leaving the total debt amount at a similar level.