Ondas Holdings (ONDS) said Friday that a note holder had purchased $4.1 million in 3% senior convertible notes due 2026.
Oppenheimer & Co. is acting as the placement agent for the offering.
The company said the note holder may opt for additional closings of $30.4 million.
Proceeds will be used for general corporate purposes, focusing on growing the drone business at Ondas Autonomous Systems.
Shares of the company rose more than 13% in premarket trading activity.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments