Ondas Holdings Inc. announced the closing of its underwritten public offering of 53,084,000 shares of its common stock.
The net proceeds from the offering are estimated to be approximately $163 million after deducting underwriting discounts and commissions.
The company intends to use the net proceeds for working capital, general corporate purposes, and potential strategic transactions.
Offering Details
Totaling $173 million, the public offering included 53,084,000 shares, with $163 million estimated net proceeds after expenses.
Use of Proceeds
The funds will be allocated towards working capital, general corporate purposes, and potential strategic transactions like acquisitions or investments.
Underwriter Information
Oppenheimer & Co. Inc. acted as the sole book-running manager for the offering, with support from Northland Capital Markets, Ladenburg Thalmann & Co. Inc., and Lake Street Capital Markets, LLC.
- The successful closing of the public offering demonstrates investor confidence in Ondas Holdings Inc.'s growth prospects and strategic direction.
- The strategic allocation of funds towards working capital and potential acquisitions positions the company for future expansion and innovation.
Ondas Holdings Inc. concluded its $173 million public offering with a strong investor response and strategic plans for the use of the net proceeds, reflecting a positive outlook for the company's future growth and development.