BOSTON – Ondas Holdings Inc. (NASDAQ: ONDS), identified for its industrial wi-fi networks and industrial drone options, introduced the profitable acquisition of $18.9 million of senior convertible notes, contributing to a Complete web proceeds of $30 million achieved since December 3. . The corporate, at the moment valued at $221 million by market cap, has seen its shares leap greater than 346% up to now six months, in line with InvestPro knowledge. The monetary enhance, aimed primarily at supporting the expansion of its drone enterprise, Ondas Autonomous Methods (OAS), comes after the corporate met its funding targets set on the OAS Investor Day in September 2024 .
Eric Brock, Chairman and CEO of Ondas Holdings, expressed confidence within the firm’s trajectory, saying: “Ondas enters 2025 with important enterprise momentum that’s now supported by a powerful money place.” Nevertheless, InvestPro The evaluation signifies some monetary challenges, with the corporate’s total monetary well being rating rated as low and analysts forecasting a decline in gross sales for the present yr. InvestingPro subscribers have entry to over 15 extra unique insights on ONDS’s monetary situation and market outlook. He highlighted the success of the capital enhance with a long-time investor, which aligns with the beforehand revealed multi-stage capital plan. The funds are anticipated to satisfy rising international demand for the corporate’s autonomous drone platforms, Optimus and Iron Drone, and help operational plans to profit clients and buyers.
OAS, which recorded $14.4 million in orders within the third quarter of 2024, is predicted to make use of proceeds for common company functions. The Optimus System and Iron Drone Raider, OAS’ superior drone platforms, are poised for elevated manufacturing and deployment. These extremely automated, AI-powered drones are designed for important protection, infrastructure and authorities purposes, with Optimus being the primary FAA-certified small UAS for aviation safety and knowledge seize, and Iron Drone Raider serving as a counter-drone system.
Ondas Networks, a subsidiary of Ondas Holdings, gives non-public wi-fi knowledge options, whereas American Robotics and Airobotics, working below OAS, present industrial drone options. Collectively, these entities serve protection, homeland safety, public security and different important markets by enhancing connectivity, situational consciousness and knowledge processing capabilities.
The funding is seen as a strategic transfer to capitalize on the rising demand for autonomous drone expertise, with Ondas set to replace its industrial outlook to the primary quarter of 2025. Oppenheimer & Co. Inc. served as sole agent placement for the supply. Additional particulars concerning the providing can be disclosed within the Firm’s upcoming Kind 8-Ok submitting.
This information relies on a press launch. With the inventory buying and selling close to its 52-week excessive of $3.10 and displaying important volatility, buyers on the lookout for extra in-depth data can entry a complete evaluation by way of InvestPro‘s in-depth analysis studies, which give skilled evaluation of ONDS and greater than 1,400 different U.S. shares.
Moreover, Ondas Holdings managed to as soon as once more adjust to Nasdaq’s minimal bid value requirement. This achievement ensures the continued itemizing of the corporate on the Nasdaq Capital Market. The corporate additionally strengthened its monetary place by issuing new convertible notes, elevating $10 million and securing an $11.5 million funding to primarily help the expansion of its drone enterprise, Ondas Autonomous Methods. Moreover, Ondas issued $4.1 million of three% Collection B-2 senior convertible notes for common company functions.
Regardless of a tough third quarter of 2024 with revenues falling to round $1.5 million from $2.7 million within the third quarter of 2023 and an working lack of $8.7 million, Ondas earned $14.4 million {dollars} in orders for its army expertise platforms and acquired a strategic order for Siemens (ETR:) for Chicago’s Metra rail system. The corporate additionally expanded its 2021 inventory incentive plan, growing the variety of shares out there for issuance from 8 million to 11 million.
These latest developments mirror Ondas’ continued efforts to attain monetary and operational goals. The transactions have been facilitated by Oppenheimer & Co. Inc., in some circumstances appearing as sole placement agent. These are the newest developments within the firm’s operations.
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