Drone firm Ondas drops after $200 mln equity raise

Ondas

09/09/2025 16:04

** Shares of private wireless and autonomous drone solutions firm Ondas Holdings ONDS.O down 11.4% on Tues to $5.36 after $200 mln follow-on offering

    ** Boston, Massachusetts-based ONDS early Tues said it priced 40 mln shares at $5

    ** Offering price represents 17.5% discount to stock's last close of $6.06

      ** It intends to use net proceeds for strategic growth, including acquisitions, joint ventures and investments

      ** Oppenheimer is lead bookrunner for the offering, joined by Stifel

      ** About a month ago, ONDS priced $150 mln equity offering at $3.25

      ** As of Sept 3, co had ~279.6 mln shares outstanding for about $1.7 bln market cap through Mon

    ** Even with the decline on Tues, shares up 180% this quarter. Stock closed at 89 cents a year ago

    ** 4 of 6 analysts rate ONDS "strong buy" or "buy", 1 has "hold" and median PT is $5, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))