Ondas Holdings (ONDS) said Monday that a note holder decided to purchase $18.9 million in 3% senior convertible notes due 2026, making it the third investment in the company's convertible notes in the month by the unnamed investor.
The company said the latest offering brings the total net cash proceeds to $30 million, before placement fees and expenses.
Proceeds will be used for general corporate purposes and to support the growth of its drone business, Ondas Autonomous Systems, which received $14.4 million in orders in Q3 2024, the company said.
Shares of the company were up 3% in recent premarket activity.
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