Ondas Holdings Inc. announced the closing of its underwritten public offering of 53,084,000 shares of common stock.
The company estimates net proceeds from the offering to be approximately $163 million after deducting underwriting discounts and commissions.
Net proceeds will be used for working capital, general corporate purposes, and potential strategic transactions.
Offering Details
53,084,000 shares of common stock were offered, including the full exercise of the overallotment option, resulting in approximately $163 million in net proceeds.
Intended Use of Proceeds
Ondas intends to utilize the net proceeds for working capital, general corporate purposes, and potential strategic transactions like acquisitions.
Underwriters
Oppenheimer & Co. Inc. acted as the sole book-running manager, while Northland Capital Markets acted as the lead manager for the offering.
- The successful closing of the public offering indicates investor confidence in Ondas Holdings Inc.'s future prospects and growth strategy.
- The estimated $163 million in net proceeds will provide the company with financial resources to support its operational needs and pursue strategic opportunities.
Ondas Holdings Inc.'s completion of the public offering signifies a significant milestone for the company, paving the way for enhanced liquidity and potential expansion opportunities in the market.