Ondas Holdings Inc. announced the closing of its underwritten public offering of 53,084,000 shares of its common stock.
The Company included 6,924,000 shares of common stock sold pursuant to the exercise in full by the underwriter of their over-allotment option.
Net proceeds from the offering are estimated to be approximately $163 million after deducting underwriting discounts and commissions and estimated offering expenses.
Use of Proceeds
Ondas intends to use the net proceeds for working capital, general corporate purposes, and potential strategic transactions.
Underwriters
Oppenheimer & Co. Inc. acted as the sole book-running manager for the offering.
Legal Counsel
Akerman LLP served as legal counsel to Ondas and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. served as legal counsel to the underwriters.
- The successful offering provides Ondas Holdings Inc. with significant funds for potential acquisitions and strategic initiatives.
- The over-subscription of the offering indicates investor confidence in Ondas' future prospects.
Ondas Holdings Inc.'s successful public offering marks a milestone for the company, positioning it well for future growth and expansion.