Ondas Holdings Acquires 70% of 4M Defense With Cash and Stock Issuance

Reuters10-29
Ondas Holdings Acquires 70% of 4M Defense With Cash and Stock Issuance

Ondas Holdings Inc. completed the acquisition of a controlling interest in 4M Defense Ltd. by acquiring 70% of HoldCo, which owns 100% of 4M. As part of the transaction, Ondas issued 801,068 shares of its common stock and paid $2,400,000 in cash to the shareholders of HoldCo. The deal includes a 12-month lock-up on 480,641 shares held by one shareholder, with gradual release provisions thereafter.

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