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Ondas Note Holder Purchases $4.1 million of Convertible Notes: Funds Primarily to Support Drone Business Expansion and Build Inventory to Meet Growing Demand
Ondas Holdings (NASDAQ:ONDS) has secured a $4.1 million investment through 3% senior convertible notes due 2026, marking the third investment from the same institutional investor, bringing total convertible notes to $50.1 million since October 2022. The funds will primarily support the expansion of Ondas Autonomous Systems (OAS) drone business, which reported $14.4 million in orders in Q3 2024. The note holder has the option to invest an additional $30.4 million. The investment aims to increase inventory production to meet growing demand for Optimus and Iron Drone Raider autonomous platforms in 2025.
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