Business
Ondas Holdings Announces Closing of $4.0 Million Registered Direct Offering
MARLBOROUGH, MA / ACCESSWIRE / August 30, 2024 / Ondas Holdings Inc. (NASDAQ:ONDS) ("Ondas" or the "Company"), a leading provider of private industrial
About this update from Ondas Inc
[{"type":"text","content":"MARLBOROUGH, MA / ACCESSWIRE / August 30, 2024 / Ondas Holdings Inc. (NASDAQ:ONDS) (\"Ondas\" or the \"Company\"), a leading provider of private industrial wireless networks and commercial drone and automated data solutions through our Ondas Networks and Ondas Autonomous Systems (OAS) business units, today announced that it has closed its previously announced offering of 5,333,334 units of the Company, with each unit consisting of one share of common stock, one Series A warrant to purchase one share of common stock, and one Series B warrant to purchase one share of common stock. Each unit was sold at a public offering price of $0.75, for gross proceeds of $4.0 million (the \"Offering\"), before deducting commissions and offering expenses. The warrants have an exercise price of $0.8073 per share, will be exercisable six months from the date of issuance, and in the case of the Series A warrant, will expire on the two and one half-year anniversary from the date of issuance, and in the case of the Series B warrant, will expire on the five and one half-year anniversary from the date of issuance.Maxim Group LLC acted as the sole placement agent for the OfferingOndas currently intends to use the net proceeds from the Offering for working capital and general corporate purposes.The Offering was made pursuant to an effective shelf registration statement on Form S-3, as amended, (File No. 333-276852) previously filed with and subsequently declared effective by the U.S. Securities and Exchange Commission (\"SEC\") on February 15, 2024. A prospectus supplement relating to the securities issued in the Offering has been filed by the Company with the SEC. Copies of the prospectus supplement relating to the Offering, together with the accompanying prospectus, can be obtained at the SEC's website at www.sec.gov or by contacting Maxim Group LLC, at 300 Park Avenue, 16th Floor, New York, NY 10022, Attention: Syndicate Department, or via email at [email protected] or by telephone at (212) 895-3745.This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other ...