Ondas Holdings Inc. (NASDAQ:ONDS) on Friday priced a large equity financing to fund expansion across its autonomous systems and wireless operations.
The company detailed the structure and pricing of its capital raise on Friday.
Offering Structure
Ondas sold a mix of common shares and pre-funded warrants to a single institutional investor.
The transaction covers 60.79 million common stock equivalents under a registered direct offering format.
Each unit includes either a share or a pre-funded warrant paired with two additional stock warrants.
The combined price per share package reached $16.45, reflecting a notable premium to recent trading levels.
Ondas priced the deal roughly 17.5% above its Jan. 8 closing stock price.
The company expects the offering to close around Jan. 12, subject to standard conditions.
Capital Impact
Ondas estimates gross proceeds near $1 billion before underwriting and transaction expenses.
The warrants could generate up to $3.4 billion in added funding if investors exercise them for cash.
Each common stock warrant carries a $28 exercise price and a seven-year term.
Each pre-funded warrant becomes immediately exercisable and also lasts seven years.
Strategic Plans
Ondas plans to deploy the capital across acquisitions, joint ventures, and internal technology investments.
According to Benzinga Pro, ONDS stock has gained over 521% in the past year. Investors can gain exposure to the stock via Roundhill Meme Stock ETF (NYSE:MEME).
ONDS Price Action: Ondas Holdings shares were down 0.32% at $13.96 at the time of publication on Friday, according to Benzinga Pro data.
Photo by T. Schneider via Shutterstock
