Ondas Holdings Inc.
Ondas Holdings Secures $4.1 Million Convertible Note Purchase to Fuel Drone Business Growth
Summary
Ondas Holdings Inc. announced that a note holder has purchased $4.1 million in aggregate principal amount of 3% senior convertible notes due 2026. The investment will support the growth of Ondas Autonomous Systems (OAS) business, which has experienced significant demand. Oppenheimer & Co. Inc. acted as placement agent for the offering. If elected by the note holder, Ondas Holdings may complete additional closings of up to an additional $30.4 million.
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About Ondas Holdings Inc.
Ondas Holdings Inc. is a technology company specializing in advanced wireless networking solutions. The company's primary function is to develop and provide mission-critical networking infrastructure for the Industrial Internet of Things (IIoT). Ondas Holdings offers its proprietary FullMAX radio platform, which is designed for secure, reliable, and extensive coverage networking in open and challenging environments, making it particularly suitable for industrial and commercial sectors. The industries it impacts include utilities, transportation, and public safety, among others, by providing robust wireless communication networks that enhance operational efficiencies and safety protocols. Ondas Holdings is significant in the market for its innovative approach to addressing the unique communication needs of large-scale enterprises, driving the digital transformation of traditional industries towards more connected and data-driven operations.
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