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 expenses.
The company intends to use the funds for working capital, general corporate purposes, and potential strategic transactions.
Offering Details
53,084,000 shares of common stock were sold, including the full exercise of the overallotment option, resulting in approximately $163 million in net proceeds.
Use of Proceeds
The funds will be utilized for working capital, general corporate purposes, and potential strategic transactions, including acquisitions and investments.
Underwriters
Oppenheimer & Co. Inc. acted as the sole book-running manager, with Northland Capital Markets as the lead manager, and others as co-managers.
- The successful closing of the $173 million public offering indicates investor confidence in Ondas Holdings Inc.
- The additional capital is expected to strengthen the company's financial position and support future growth initiatives.
Ondas Holdings Inc.'s successful public offering and the net proceeds will provide the company with opportunities for expansion and strategic investments in line with its business objectives.