Ondas note holder purchases additional $18.9M of convertible notes

Ondas (ONDS) Holdings announced that a note holder has elected to purchase $18.9M in aggregate principal amount of 3% senior convertible notes due 2026. This marks the third investment from the investor in Ondas Holdings convertible notes since December 3rd, resulting in $30M in net cash proceeds to the Company, before placement fees and expenses. The proceeds from the Offering will be used for general corporate purposes and will be primarily allocated to support the growth of the Company’s drone business, Ondas Autonomous Systems, which received $14.4M in orders in Q3 2024. Oppenheimer & Co. acted as sole placement agent in connection with the Offering.