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Ondas Secures $3.5 million Investment in Ondas Autonomous Systems in Transaction Led by Ondas Chairman and CEO Eric Brock and Board Member Joe Popolo
Ondas Holdings Inc. (NASDAQ:ONDS) announced that its subsidiary, Ondas Autonomous Systems Inc. (OAS), has secured a $3.5 million investment in convertible notes. The investment, led by Ondas Chairman and CEO Eric Brock and Board Member Joe Popolo, aims to support OAS' growth in providing unmanned aerial security and intelligence to defense, security, and critical infrastructure markets.
The investment comes from Charles & Potomac Capital, and Privet Ventures , with Eric Brock personally investing $1.0 million through Privet Ventures. The convertible notes mature on September 30, 2025, and are convertible into OAS securities, not Ondas Holdings securities. This funding follows OAS' recent success in securing $14.4 million in orders in Q3 2024 for its Iron Drone Raider and Optimus System.
The investment comes from Charles & Potomac Capital, and Privet Ventures , with Eric Brock personally investing $1.0 million through Privet Ventures. The convertible notes mature on September 30, 2025, and are convertible into OAS securities, not Ondas Holdings securities. This funding follows OAS' recent success in securing $14.4 million in orders in Q3 2024 for its Iron Drone Raider and Optimus System.
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