ONDS - Ondas Holdings to receive at least $15M investment
2023-07-10 08:37:48 ET
- Industrial wireless networks provider Ondas Holdings ( NASDAQ: ONDS ) said on Monday that a private investor group led by Charles & Potomac Capital will invest at least $15M in the convertible preferred securities of the unit Ondas Networks.
- The investment is expected to provide Ondas Networks with additional working capital to accelerate production, fulfill backlog and support its growth plan.
- As part of the investment agreement, the investor group will fund an initial close of $10M.
- Another close of up to an additional $10M is planned in Q3 by a strategic investor. Charles & Potomac Capital has committed to fund up to $5M in the second closing, if the strategic investor does not participate.
- ONDS shares were trading +0.97% pre-market.
- Source: Press Release
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Ondas Holdings to receive at least $15M investment