Ondas note holder purchases $4.1M of convertible notes

Ondas (ONDS) Holdings announced that a note holder has elected to purchase $4.1 million in aggregate principal amount of 3% senior convertible notes due 2026. Oppenheimer & Co. Inc. will act as placement agent in connection with the Offering. Also, if elected by the note holder, Ondas Holdings may complete additional closings of up to an additional $30.4 million in aggregate principal amount. The proceeds from the investment in Ondas Holdings will be used for general corporate purposes and will be primarily allocated to supporting the growth of our drone business at Ondas Autonomous Systems.