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Ondas Holdings Inc. Prices $44.8 Million Public Offering of Common Stock
NANTUCKET, Mass.--(BUSINESS WIRE)-- Ondas Holdings Inc. (NASDAQ: ONDS), a developer of proprietary, software-based wireless broadband technology for large
About this update from Ondas Inc
[{"type":"text","content":" NANTUCKET, Mass.--(BUSINESS WIRE)--\nOndas Holdings Inc. (NASDAQ: ONDS), a developer of proprietary, software-based wireless broadband technology for large established and emerging industrial markets, announced today that it has priced its underwritten public offering of 6,400,000 shares of its common stock at a public offering price of $7.00 per share. Ondas expects the gross proceeds from this offering to be $44,800,000, before deducting the underwriting discount and other estimated offering expenses. Ondas intends to use the net proceeds from this offering for working capital and general corporate purposes. Ondas has granted the underwriters a 30-day option to purchase up to 960,000 additional shares of its common stock. Ondas expects to close the offering, subject to customary conditions, on or about June 11, 2021.\n\nOppenheimer & Co. Inc. is acting as the sole book-running manager for the offering, and B. Riley Securities, Inc. is acting as the lead manager for the offering.\n\nA shelf registration statement relating to the shares of common stock to be issued in the offering was filed with the Securities and Exchange Commission (\"SEC\") and is effective. A preliminary prospectus supplement and accompanying prospectus describing the terms of the offering has been filed with the SEC and a final prospectus supplement will be filed with the SEC. Copies of the final prospectus supplement and the accompanying prospectus relating to the securities being offered may also be obtained, when available, from Oppenheimer & Co. Inc. Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, NY 10004, or by telephone at (212) 667-8055, or by email at [email protected]. Electronic copies of the final prospectus supplement and accompanying prospectus will also be available on the SEC's website at http://www.sec.gov.\n\nThis press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.\n\nForward-Looking Statements\n\nStatements made in this release that are not statements of historical or current facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including,...