10:57 AM EDT, 05/23/2024 (MT Newswires) -- Actelis Networks ( ASNS ) said Thursday it has signed a binding term sheet to buy between 61% and 75% of the shares of Dubai-based Quality Industrial.

Actelis said it would issue to the sellers of the shares 19.99% of its common shares and preferred non-voting shares for the balance of the consideration.

The companies said they are planning to close the deal within 60 days.

Actelis shares were rising nearly 12% in recent Thursday trading.

Price: 0.62, Change: +0.07, Percent Change: +11.80