Tonix Pharmaceuticals stock halted ahead of FDA approval news
Investing.com -- Ondas Holdings Inc (NASDAQ:ONDS) stock fell 15.4% after the industrial wireless networks and commercial drone solutions provider announced the pricing of its underwritten public offering.
The company priced 46,160,000 shares of its common stock at $3.25 per share, expecting to raise approximately $150 million in gross proceeds before deducting underwriting discounts and other offering expenses. Ondas has also granted underwriters a 30-day option to purchase up to an additional 6,924,000 shares.
Ondas intends to use the net proceeds for working capital, general corporate purposes, and potential strategic transactions, including acquisitions, joint ventures, or investments in businesses, products, or technologies.
The offering is expected to close on or about August 14, 2025, subject to customary closing conditions.
Oppenheimer & Co. Inc. is serving 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 are serving as co-managers.
The significant stock decline reflects typical market reaction to public offerings, which often dilute existing shareholders’ ownership stakes.
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