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BOSTON - Ondas Holdings Inc. (NASDAQ:ONDS), currently trading at $2.23 per share with a market capitalization of $390 million, announced Monday it has fully retired all of its outstanding convertible notes as of July 18, 2025.
The retirement includes all previously issued convertible notes, including the 2023 Additional Notes and the December 2024 Additional Notes series. Following this settlement, the company reports it no longer has any outstanding convertible notes. According to InvestingPro data, the company operates with a moderate debt level, with a debt-to-equity ratio of 1.63.
"The full exercise and retirement of our convertible notes is a significant achievement for Ondas," said Eric Brock, Chairman and CEO of Ondas Holdings in the press release statement.
The company reported it holds more than $67 million in cash and cash equivalents on its balance sheet as of June 30, 2025.
Ondas Holdings, through its business units Ondas Autonomous Systems and Ondas Networks, provides private industrial wireless networks and autonomous drone solutions. The company’s portfolio includes the Optimus System, which it describes as the first U.S. FAA-certified small unmanned aircraft system for automated aerial security and data capture.
The note retirement simplifies the company’s capital structure and balance sheet, according to the announcement based on a company press release.
In other recent news, Ondas Holdings Inc. has announced several notable developments. The company reported that it settled its 2023 convertible notes, leaving $5.4 million in Series B-2 Senior Convertible Notes outstanding, which have a maturity date of December 17, 2026. Ondas Holdings also extended the maturity dates of several notes through its subsidiary, Ondas Networks Inc., now set to mature on December 31, 2025. Additionally, Ondas Holdings has appointed Neil Laird as the chief financial officer, transitioning from his previous interim role, and formalized his employment agreement, which includes an annual salary and stock options. The company also formed a strategic partnership with Mistral Inc. to market and sell its autonomous drone systems to U.S. defense and homeland security agencies. This collaboration aims to leverage Mistral’s established government relationships to promote Ondas’ Optimus and Iron Drone Raider systems. Furthermore, Ondas Holdings posted a shareholder letter on its website, detailing these updates and other strategic initiatives. These developments reflect Ondas Holdings’ ongoing efforts to strengthen its financial position and expand its market presence.
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