Procore signs multi-year strategic collaboration agreement with AWS
Ondas Holdings Inc. (NASDAQ:ONDS), a company specializing in radio and TV broadcasting and communications equipment, has amended a significant financial agreement, as per their latest SEC filing. On Friday, the company’s subsidiary, Ondas Networks Inc., and Charles & Potomac Capital, LLC—an entity affiliated with Joseph Popolo, a director of Ondas Holdings—entered into a Letter Agreement to extend the maturity date of a $1.5 million secured loan.
The loan, initially set to mature on Friday, will now be due on July 23, 2025. This extension provides Ondas Networks with additional time to fulfill its financial obligation to the lender. The original Security Note Agreement, which laid out the terms of the secured loan, was entered into on September 3, 2024. With the stock currently trading at $0.98, down 62% year-to-date, InvestingPro analysis suggests the company is trading below its Fair Value, though investors should note the company is not currently profitable.
Ondas Holdings, incorporated in Nevada and headquartered in Marlborough, MA, has its common stock listed on The Nasdaq Stock Market under the ticker symbol ONDS. The extension of the loan’s maturity date is a material event for the company, which has been duly reported in the 8-K filing, a regulatory requirement for announcing significant changes and events that shareholders should be aware of. For deeper insights into Ondas Holdings’ financial health and growth prospects, including 12 additional ProTips and comprehensive valuation metrics, check out the detailed Pro Research Report available on InvestingPro.
This financial maneuver comes at a time when Ondas Networks continues to operate within the competitive communications equipment sector, with a market capitalization of $82.92 million. The details of the Letter Agreement were included in Exhibit 10.1 of the 8-K filing, which is publicly available for review. This news is based on the company’s statement in the press release and aims to present the facts without any promotional content or speculative commentary.
In other recent news, Rain Enhancement Technologies Holdco, Inc. has appointed Randy Seidl as its new Chief Executive Officer. Seidl, who has been serving as Co-CEO since January 2025, succeeds Chris Riley, who will remain on the company’s Board of Directors. The leadership change is part of RET’s strategy to leverage Seidl’s extensive experience in scaling technology companies to further its growth and technological advancements. Meanwhile, Ondas Holdings Inc. has announced several strategic developments. Markus Nottelmann has been appointed as CEO of Ondas Networks, a subsidiary of Ondas Holdings, bringing his experience from the railroad industry to advance the company’s technological evolution. Additionally, Ondas has appointed Ron Stern (AS:PBHP) to its Board of Directors, with expectations for him to significantly contribute to the growth of its Ondas Autonomous Systems business unit. Ondas also secured a significant purchase order from a major defense company for its Iron Drone Raider system, indicating a strategic expansion in the defense sector. Furthermore, Ondas’s subsidiary, American Robotics, obtained an additional FAA Beyond Visual Line of Sight waiver, allowing expanded drone operations, which marks a significant step forward in their drone capabilities.
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