Ondas note holder purchases additional $11.5M of convertible notes

Ondas (ONDS) Holdings annouced a note holder has elected to purchase $11.5 million in aggregate principal amount of 3% senior convertible notes due 2026. Also, if elected by the note holder, Ondas Holdings may complete additional closings of up to an additional $18.9 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 the Company’s drone business, Ondas Autonomous Systems. Oppenheimer & Co. Inc. will act as placement agent in connection with the Offering.