Ondas Holdings Inc. completed a $1 billion registered direct offering of 19 million shares of common stock and pre‑funded warrants to purchase up to 41.79 million shares, priced at $16.45 per common‑stock equivalent. The offering closed on January 12, 2026, after a 17.5% premium to the January 8 close.
The deal delivers 60.79 million common‑stock equivalents and 121.58 million accompanying warrants, giving investors the right to buy 121.58 million shares at $28.00 each. If all warrants are exercised, the transaction could raise an additional $3.4 billion, underscoring the scale of the capital infusion.
Ondas will use the proceeds to accelerate product development, integrate recent acquisitions—such as Apeiro Motion, Roboteam Ltd., and Performance Drone Works—and pursue new strategic investments in autonomous and wireless technologies. Management emphasized that the capital will support the company’s aggressive growth plan and provide a buffer against its high operating burn.
The offering strengthens Ondas’ balance sheet, which already held $433.4 million in cash, cash equivalents, and restricted cash as of September 30, 2025. The new capital will extend the company’s runway, allowing it to fund the expansion of its autonomous systems division, which has seen a surge in demand and a backlog of new purchase orders totaling roughly $10 million.
The transaction also dilutes existing shareholders. At the close of the offering, the pro‑forma number of shares outstanding will increase, resulting in a dilution of approximately 3%—a modest impact that is offset by the expected upside from the expanded product pipeline and the ability to capture larger market share in defense and critical infrastructure sectors.
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