**Ondas Holdings Inc. Issues 3% Series B-2 Senior Convertible Notes**

On December 3, 2024, Ondas Holdings Inc. (NASDAQ: ONDS) announced that it had issued 3% Series B-2 Senior Convertible Notes amounting to $4.1 million. The notes, known as the 2024 Additional Notes, were issued in accordance with the terms of a Securities Purchase Agreement (SPA). These notes are convertible into shares of the company’s common stock under specified conditions outlined within the notes.

The 2024 Additional Notes were offered at an original issue discount of roughly thirteen percent, resulting in total gross proceeds of around $3.6 million for Ondas Holdings. The company plans to utilize the net proceeds primarily for general corporate purposes, with a focus on supporting the expansion of its drone business at Ondas Autonomous Systems.

Issued under an indenture between Ondas Holdings and Wilmington Savings Fund Society, FSB, the 2024 Additional Notes have a maturity date of December 3, 2026. The notes were part of the company’s shelf registration statement on Form S-3, which had been filed with the Securities and Exchange Commission (SEC) on February 2, 2024, and became effective on February 15, 2024.

The placement agent for this transaction was Oppenheimer & Co. Inc. as per a previously established Placement Agent Agreement dated October 26, 2022. Legal opinions regarding the legality of issuing and selling the 2024 Additional Notes were provided by law firms Snell & Wilmer L.L.P. and Akerman LLP. These opinions are attached as exhibits to the Current Report on Form 8-K filed with the SEC.

The completion of this financial transaction does not constitute an offer to sell or a solicitation of an offer to buy, and any such sale would need to adhere to regulatory requirements. This recent move by Ondas Holdings Inc. underscores the company’s continued efforts to bolster its financial standing and support business growth initiatives.

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.