Ondas Holdings Inc. Announces Purchase of $18.9 Million in Convertible Notes by Note Holder

On December 30, 2024, Ondas Holdings Inc. (NASDAQ: ONDS) disclosed in a press release that a note holder has opted to acquire $18.9 million in aggregate principal amount of 3% senior convertible notes due 2026. This move represents the third investment made by the investor in Ondas Holdings’ convertible notes since December 3rd, resulting in a total of $30 million in net cash proceeds to the company. These proceeds, prior to placement fees and expenses, will be utilized for general corporate purposes, with a significant portion earmarked to bolster the growth of the Company’s drone business, Ondas Autonomous Systems (OAS), which received $14.4 million in orders during Q3 2024.

Eric Brock, the Chairman and CEO of Ondas Holdings, conveyed his optimism about the company’s outlook for 2025 due to the added business momentum supported by a strengthened financial position. Brock remarked, “After securing $30 million in net proceeds from a long-time investor in the last four weeks, we have now achieved the funding targets for the multi-stage capital plan we outlined at our OAS Investor Day in September.”

The funding infusion from the note holder is expected to aid Ondas in meeting the escalating global demand for its Optimus and Iron Drone autonomous drone platforms and execute the operational strategies to provide value for its investors. The Company intends to share a comprehensive business update in the first quarter of 2025.

Offering insights into the transaction, Oppenheimer & Co. Inc. was the exclusive placement agent.

For further details regarding this Offering, interested parties are directed to refer to the Form 8-K to be submitted by the Company.

Ondas Holdings Inc., a major player in private industrial wireless networks and commercial drone and automated data solutions space, is backed by Ondas Networks Inc., American Robotics, Inc., and Airobotics LTD, collectively operating as Ondas Autonomous Systems.

The Company envisions fulfilling the rising market demand for its innovative drone solutions and enhancing connectivity, situational awareness, and data collection capabilities across various critical industrial and government sectors.

Please note that forward-looking statements are provided within this release. It is advised that readers exercise caution, recognizing that these statements are anticipatory in nature and subject to risks, uncertainties, and assumptions.

Investor Relations Contact for Ondas Holdings Inc.: 888.350.9994 x1019
Media Contact for Ondas: Escalate PR, ondas@escalatepr.com
Preston Grimes
Marketing Manager, Ondas Holdings Inc.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Ondas’s 8K filing here.

About Ondas

Ondas Holdings Inc, through its subsidiaries, provides private wireless, drone, and automated data solutions. It operates in two segments, Ondas Networks and Ondas Autonomous Systems. The company designs, develops, manufactures, sells, and supports FullMAX, a software defined radio (SDR) platform for wide-area broadband networks.