Ondas Holdings slides on $150 mln stock offering

Ondas

13/08/2025 13:33

** Shares of drone and automation service provider Ondas Holdings ONDS.O down 20.7% premarket to $3.40 after follow-on prices

    ** Boston, Massachusetts-based firm announces ~46.2 mln shares at $3.25 for gross proceeds of $150 mln

    ** Offering price represents 24.2% discount to stock's close on Tues

    ** ONDS shares on Tues rose ~25% after co earlier in the day reported Q2 rev grew more than six-fold y/y to $6 mln driven by demand for its autonomous drone systems

    ** Co said intends to use net offering proceeds for working capital, general purposes and potential strategic transactions, including acquisitions of businesses or assets, per the prospectus

    ** It has ~219.2 mln shares outstanding as of Aug 11, giving ONDS ~$940 mln market cap

** Oppenheimer sole bookrunner for the offering

    ** Through Tues, stock up 68% YTD

    ** 4 of 5 analysts rate ONDS "strong buy" or "buy", 1 has "hold" and median PT is $4.63, per LSEG

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

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