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Ondas Holdings Inc. (NASDAQ:ONDS) announced the completion of its acquisition of Apeiro Motion Ltd., an Israeli company, for approximately $12 million in cash. The transaction was finalized on August 31, following a previously announced Share Purchase Agreement dated August 18. The acquisition comes amid strong momentum for Ondas , which has seen its stock surge over 500% in the past six months, with a current market capitalization of $1.46 billion. According to InvestingPro data, the company maintains a healthy liquidity position with a current ratio of 2.9.
According to a statement released in a filing with the Securities and Exchange Commission, Ondas acquired 100% of the issued and outstanding share capital of Apeiro Motion. The agreement involved Apeiro shareholders and Mr. Rotem Lesher, acting as the representative for indemnifying parties. InvestingPro analysis indicates the stock is currently trading above its Fair Value, with notably high price volatility and impressive revenue growth of 75% over the last twelve months.
The company stated that financial statements and pro forma financial information are not required for this transaction under applicable SEC regulations.
The information in this article is based on a press release statement included in the company’s SEC filing.
In other recent news, Ondas Holdings Inc. has reported significant developments that may interest investors. The company announced a definitive agreement to acquire a 51% controlling interest in S.P.O Smart Precision Optics, an Israeli manufacturer of advanced precision optical components and systems. This acquisition will enhance Ondas’ capabilities in high-end precision optics, a sector crucial to Israeli defense corporations. Additionally, Ondas participated in an $8 million investment in Safe Pro Group Inc., aimed at advancing AI defense technology.
In terms of analyst activity, Needham initiated coverage on Ondas with a Buy rating and a $5 price target, adding the company to its Conviction List due to its growth potential. Furthermore, Northland raised its price target for Ondas to $5 from $4.25, maintaining an Outperform rating based on the company’s impressive 555% revenue growth in the second quarter. In leadership changes, Ondas appointed Mark Green as Head of Global Corporate Development and Mergers & Acquisitions, bringing over 30 years of investment banking experience to the company. These developments reflect Ondas’ strategic moves and the confidence analysts have in its growth trajectory.
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