Ondas Holdings (ONDS) Jumps 15% After Raising $200-Million Funds

We recently published 10 Stocks Investors Are Gobbling Up. Ondas Holdings Inc. (NASDAQ:ONDS) is one of the best performers on Thursday.

Ondas Holdings extended its rally to a second day on Thursday, adding 15.47 percent to close at $6.42 apiece after successfully raising $217 million in fresh funds from the issuance of new shares.

In a statement, Ondas Holdings Inc. (NASDAQ:ONDS) said its follow-on offer received strong demand, having been fully subscribed by investors.

Under the issuance, the company offered 46 million new shares, including 6 million shares under its overallotment option.

Ondas Holdings Inc. (NASDAQ:ONDS) said it plans to use the proceeds for corporate development and strategic growth, including acquisitions, joint venture,s and investments.

Earlier this month, the company launched a new business unit focused on accelerating the global deployment of unmanned and autonomous systems to Allied defense and security markets.

Called Ondas Capital, the unit will combine advisory services with direct investment to support the rapid scaling of mature and combat-proven defense technologies. The unit will initially emphasize activity in Eastern Europe, with a particular focus on Ukraine, and build bridges to Allied markets in the United States and Europe.

Ondas expects to deploy at least $150 million to this initiative over the next two years, with investments expected to begin in the fourth quarter of 2025.

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Disclosure: None. This article is originally published at Insider Monkey.