- Proprietary, software-based wireless broadband technology developer, Ondas Holdings Inc ONDS, has priced 6.4 million shares at $7 per share to raise $44.8 million gross proceeds in a secondary public offering.
- The offer price signifies a 22.7% discount to the June 7 closing price of $9.05.
- The offering proceeds will be utilized for working capital and general corporate purposes.
- The underwriters have a 30-day option to procure up to 0.96 million additional shares.
- ONDS shares have gained 45.5% in the last six months but are down 9.69% in the last quarter.
- Price action: ONDS shares are trading lower by 14.6% at $7.64 in the premarket session on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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