Ondas Announces That A Note Holder Has Elected To Purchase $4.1M In Aggregate Principal Amount Of 3% Senior Convertible Notes Due 2026; Investment To Support The Growth Of The OAS Business Which Has Experienced Substantial Demand Including $14.4M In Orders In Q3 2024
Investment to support the growth of the Ondas Autonomous Systems (OAS) business which has experienced substantial demand including $14.4 million in orders in Q3 2024
This represents the third investment in Ondas Holdings convertible notes,with aggregate principal of $50.1 million, since October of 2022 from this single institutional investor
BOSTON, MA / ACCESSWIRE / November 29, 2024 / Ondas Holdings Inc. (NASDAQ:ONDS) ("Ondas Holdings" or the "Company"), a leading provider of private industrial wireless networks and commercial drone and automated data solutions, announced today that a note holder has elected to purchase $4.1 million in aggregate principal amount of 3% senior convertible notes due 2026 (the "Offering"). Oppenheimer & Co. Inc. will act as placement agent in connection with the Offering. Also, if elected by the note holder, Ondas Holdings may complete additional closings of up to an additional $30.4 million in aggregate principal amount. The proceeds from the investment in Ondas Holdings will be used for general corporate purposes and will be primarily allocated to supporting the growth of our drone business at Ondas Autonomous Systems (OAS).
