2023-07-24 09:53:31 ET
- Ondas Holdings ( NASDAQ: ONDS ) has announced that a note holder has elected to purchase $11.5M in aggregate principal amount of 3% senior convertible notes due 2025 resulting in gross proceeds of $10M to Ondas Holdings.
- Also, if elected by the note holder, Ondas Holdings may complete additional closings of up to an additional $34.5 million in aggregated principal amount.
- The proceeds from the investment in Ondas Holdings will be used for general corporate purposes.
- In addition, the Co. and the note holder agreed to extend the maturity of the existing convertibles notes originally issued in October 2022 to April 2025.
- The C&P Group plans to invest an additional $3.5M in Ondas Networks under the same terms within thirty days.
For further details see:
Ondas announces noteholder elects to purchase $11.5M of convertible notes