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BOSTON - Ondas Holdings Inc. (NASDAQ:ONDS) has regained compliance with Nasdaq’s minimum bid price requirement, according to a notification letter from the stock exchange received by the company. The stock, currently trading at $1.48, has shown strong momentum with a 45% gain over the past six months, according to InvestingPro data.
The industrial wireless networks and drone solutions provider maintained a closing bid price of at least $1.00 for 10 consecutive business days through June 10, satisfying the requirements of Nasdaq Listing Rule 5550(a)(2).
With this development, Nasdaq Listing Qualifications Staff has closed the prior bid price deficiency matter. Ondas is now in full compliance with all Nasdaq continued listing requirements and will continue to be listed and traded on The Nasdaq Capital Market.
Ondas Holdings operates through two main business segments: Ondas Networks Inc., which provides private wireless data solutions, and Ondas Autonomous Systems, which includes American Robotics, Inc. and Airobotics LTD.
The company’s portfolio includes the FullMAX platform for mission-critical IoT applications and drone systems such as the Optimus System, which has received FAA Type Certification, and the Iron Drone Raider counter-drone system.
The information is based on a company press release statement issued Wednesday.
In other recent news, Ondas Holdings Inc. announced a substantial $14.3 million purchase order from a key defense customer for its Optimus System, marking the largest order to date for this autonomous drone platform. This development significantly increased Ondas’ revenue backlog to $28.7 million, up from $10 million earlier in the year. Additionally, Ondas Holdings disclosed plans for a public offering of its common stock and pre-funded warrants, with proceeds intended for general corporate purposes. The offering is subject to market conditions, and Oppenheimer & Co. Inc. has been granted a 30-day option to purchase additional shares.
In another update, Ondas Holdings has settled its December 31, 2024, Additional Notes, reducing its outstanding debt to approximately $12.3 million. The company also faces a potential Nasdaq delisting due to non-compliance with the minimum bid price requirement, as its stock has traded below $1.00 for 30 consecutive business days. Ondas has until November 12, 2025, to regain compliance, with options for an additional compliance period if necessary.
These recent developments highlight Ondas Holdings’ financial maneuvers and strategic efforts to strengthen its market position. Investors will be closely monitoring the company’s actions to address the Nasdaq compliance issue and the outcome of the public offering.
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