Ondas Holdings (ONDS) said Friday that a note holder had purchased $4.1 million in 3% senior convertible notes due 2026.
Oppenheimer & Co. is acting as the placement agent for the offering.
The company said the note holder may opt for additional closings of $30.4 million.
Proceeds will be used for general corporate purposes, focusing on growing the drone business at Ondas Autonomous Systems.
Shares of the company rose more than 13% in premarket trading activity.
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