Ondas Holdings Inc. (ONDS) Prices 5.33M Unit Offering at $0.75/unit

Ondas Holdings Inc. (NASDAQ: ONDS) today announced that it has entered into a securities purchase agreement with a single institutional investor to purchase 5,333,334 units of the Company, with each unit consisting of one share of common stock, one Series A warrant to purchase one share of common stock, and one Series B warrant to purchase one share of common stock. Each unit was sold at a public offering price of $0.75, for gross proceeds of $4.0 million (the "Offering"), before deducting commissions and offering expenses. The warrants will have an exercise price of approximately $0.80 per share, will be exercisable six months from the date of issuance, and in the case of the Series A warrant, will expire on the two and one half-year anniversary from the date of issuance, and in the case of the Series B warrant, will expire on the five and one half-year anniversary from the date of issuance.

Maxim Group LLC is acting as the sole placement agent for the Offering.

Ondas currently intends to use the net proceeds from the Offering for working capital and general corporate purposes. The Offering is expected to close on or about August 30, 2024 (the "Closing Date"), subject to the satisfaction of customary closing conditions.

The Offering is being made pursuant to an effective shelf registration statement on Form S-3, as amended, (File No. 333-276852) previously filed with and subsequently declared effective by the U.S. Securities and Exchange Commission ("SEC") on February 15, 2024. A prospectus supplement relating to the securities to be issued in the Offering will be filed by the Company with the SEC. When available, copies of the prospectus supplement relating to the Offering, together with the accompanying prospectus, can be obtained at the SEC's website at www.sec.gov or by contacting Maxim Group LLC, at 300 Park Avenue, 16th Floor, New York, NY 10022, Attention: Syndicate Department, or via email at [email protected] or by telephone at (212) 895-3745.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

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