Shares of Actelis Networks, Inc. (ASNS) jumped 10% after the opening bell on Tuesday, following the company's plan to acquire Exaware in an all-stock deal, marking its foray into the AI-driven data center networking market.
As part of the transaction, Actelis plans to issue about 20% of its outstanding shares to Exaware shareholders at closing. This equates to roughly 5.3 million shares, based on Actelis’ 26.7 million outstanding shares, according to Koyfin data.
Under the agreement, Actelis will acquire 100% of Israel-based Exaware in an all-stock deal, with the combined company valued at about 40% for Actelis and 60% for Exaware.
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