Ondas Holdings raises $163 million in public offering

BOSTON - Ondas Holdings Inc. (NASDAQ:ONDS), whose stock has surged over 494% in the past year according to InvestingPro data, announced Friday the closing of its underwritten public offering of 53,084,000 shares of common stock, generating approximately $163 million in net proceeds after deducting underwriting discounts, commissions and estimated offering expenses.

The offering included 6,924,000 shares sold through the full exercise of the underwriter’s over-allotment option. Ondas, which provides private industrial wireless networks and commercial drone solutions through its business units, plans to use the proceeds for working capital, general corporate purposes and potential strategic transactions. The company maintains a healthy balance sheet with more cash than debt and a strong current ratio of 2.9, according to InvestingPro data.Want deeper insights? InvestingPro subscribers have access to 15+ additional ProTips and comprehensive financial analysis for ONDS, including detailed Fair Value estimates and growth projections.

Oppenheimer & Co. Inc. served as the sole book-running manager for the offering, with Northland Capital Markets acting as lead manager. Ladenburg Thalmann & Co. Inc. and Lake Street Capital Markets, LLC participated as co-managers.

The offering was conducted under a shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on April 18, 2025, which became effective on April 25, 2025.

Akerman LLP provided legal counsel to Ondas, while Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. represented the underwriters.

This information is based on a press release statement issued by the company.

In other recent news, Ondas Holdings Inc. reported its Q2 2025 earnings, revealing a substantial revenue increase to $6.3 million, marking a sixfold rise compared to the previous year. The company also reported an earnings per share (EPS) of -$0.08, which exceeded analyst expectations of -$0.10. Additionally, Ondas Holdings announced a public offering of its common stock, aiming to raise approximately $150 million in gross proceeds. The company plans to use the funds for working capital, general corporate purposes, and potential strategic transactions. Ondas Holdings has granted underwriters a 30-day option to purchase additional shares. In a separate development, Ondas Holdings appointed Dr. Irit Idan, a defense technology expert, to its advisory board. Dr. Idan brings experience from her previous roles at RAFAEL Advanced Defense Systems Ltd. and as an investment advisor for the SoftBank Vision Fund. These recent developments reflect Ondas Holdings’ strategic efforts to expand its capabilities and financial resources.

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