08:49 AM EST, 11/29/2024 (MT Newswires) -- 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.