Radio network provider Ondas Holdings sets terms for $47 million IPO

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Ondas Holdings, which provides a software-defined radio system to create private broadband networks, announced terms for its IPO on Friday.

The Sunnyvale, CA-based company plans to raise $47 million by offering 7.2 million shares at a price of $6.50, the last close of its shares on the OTCQB ( ONDS ). Current shareholder Energy Capital will receive $7 million worth of shares in the offering in exchange for extinguishing part of Ondas Holdings' debt. At the midpoint of the proposed range, Ondas Holdings would command a fully diluted market value of $398 million.

Ondas Holdings was founded in 2006 and booked $193,000 in sales for the 12 months ended March 31, 2019. It plans to list on the NYSE American under the symbol ONDS. BTIG is the sole bookrunner on the deal.

The article Radio network provider Ondas Holdings sets terms for $47 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs
Referenced Symbols: ONDS

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