10:52 AM EDT, 06/10/2025 (MT Newswires) -- Ondas ( ONDS ) said Tuesday that it has priced an underwritten public offering of common shares and pre-funded warrants to purchase common shares, aiming to raise about $40 million in gross proceeds.

The company is offering 22.4 million common shares at $1.25 apiece and pre-funded warrants to purchase up to 9.6 million shares at $1.25 per warrant, according to the statement. Ondas ( ONDS ) said the warrants are exercisable immediately at $0.0001 per share and will expire after three years.

Ondas ( ONDS ) said it granted the underwriter a 30-day option to purchase up to 4.8 million additional common shares.

The company said it expects to close the offering on Wednesday and use the net proceeds for general corporate purposes.

Shares of Ondas ( ONDS ) were down more than 3% in recent trading Tuesday.

Price: 1.62, Change: -0.06, Percent Change: -3.51