Mentioned:
Ondas Holdings has just raised a new mega financing round. And they’re aiming to use the fresh funding to become one of the most dominant drone companies in America.
What’s happening:
- Ondas Holdings (NASDAQ: ONDS) has successfully raised $150M USD in a new equity financing round
By the numbers:
- Ondas Holdings issued 46.1M common shares at a price of $3.25 USD per share as part of the new funding round
- Ondas Holdings now has a cash position of roughly $200M USD
Why it matters:
- This is the single largest financing round Ondas Holdings has ever done since the company was formed
Going deeper:
- Ondas Holdings has publicly stated they plan to use the new growth capital for potential acquisitions, joint ventures and strategic investments
- Ondas Holdings has been making a flurry of moves to scale up their defense tech business lately, including just recently completing a government led pilot program in Europe for their counter drone system Iron Drone Raider and also cutting an exclusive distribution deal with Rift Dynamics to be able to sell their Wasp combat drone in the United States of America
The intrigue:
- The opportunity in drones has continued to be a major theme on Wall Street, which has largely been fuelled by new policy changes and executive orders coming out of Washington, D.C. focused on ramping up the American military’s commitment to using leading edge drone technology for combat
