Ondas Holdings Inc. Announces Purchase of $4.1 Million in Convertible Notes by Note Holder

Ondas Holdings Inc., a leading provider of private industrial wireless networks and commercial drone solutions, revealed in a recent press release dated November 29, 2024, that a note holder has chosen to acquire $4.1 million in aggregate principal amount of 3% senior convertible notes due 2026. This financing move is aimed at supporting the growth of the Ondas Autonomous Systems (OAS) business segment, primarily to expand the drone business and bolster inventory to meet the escalating demand.

This investment marks the third installment in Ondas Holdings convertible notes, totaling $50.1 million, received since October 2022 from a single institutional investor. The proceeds from this latest investment will be allocated towards general corporate purposes, with a significant portion directed at advancing the drone business within Ondas Autonomous Systems.

Eric Brock, the Chairman and CEO of Ondas Holdings, expressed contentment over securing this additional investment to bolster the company’s growth strategy. He emphasized the positive results generated by their growth plan and highlighted the increasing demand for their autonomous drone platforms – Optimus and Iron Drone Raider – since the third quarter. The company intends to ramp up inventory production to meet the burgeoning demand in 2025 and plans to provide investors with an outlook for 2025 in the first quarter of the upcoming year.

For further details regarding the Offering, interested parties are encouraged to refer to the Form 8-K to be lodged by Ondas Holdings Inc.

Ondas Holdings Inc. (NASDAQ: ONDS) is known for its provision of private wireless data solutions via Ondas Networks Inc., and commercial drone solutions via Ondas Autonomous Systems Inc., comprising wholly-owned subsidiaries American Robotics, Inc. and Airobotics LTD. These entities collectively operate under the umbrella of Ondas Autonomous Systems, specializing in autonomous drone solutions.

The note holder’s purchase of $4.1 million in convertible notes signifies a strategic move by Ondas Holdings to fortify its drone business and inventory, reflecting the company’s commitment to meeting the escalating demand and driving growth in the autonomous systems sector.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Ondas’s 8K filing here.

Ondas Company Profile

Ondas Holdings Inc, through its subsidiaries, provides private wireless, drone, and automated data solutions. It operates in two segments, Ondas Networks and Ondas Autonomous Systems. The company designs, develops, manufactures, sells, and supports FullMAX, a software defined radio (SDR) platform for wide-area broadband networks.