Ondas holdings director Jaspreet Sood sells $37k in inventory

Jaspreet Sood, a director at Ondas Holdings Inc. (NASDAQ:ONDS), has offered shares value roughly $37,372, based on current filings. The corporate, at present valued at $113 million, has seen its inventory surge over 113% up to now six months regardless of displaying indicators of monetary pressure. In accordance with InvestingPro evaluation, Ondas is quickly burning by way of money and maintains weak gross revenue margins of about 15%. The transactions, dated December 19, 2024, concerned the sale of a complete of 28,971 shares at a worth of $1.29 per share. These gross sales have been carried out to cowl tax liabilities associated to the vesting of Restricted Inventory Models (RSUs). Following these transactions, Sood retains direct possession of 137,102 shares of frequent inventory within the firm. With the inventory’s excessive volatility and 13 further key insights accessible on InvestingPro, buyers can entry complete evaluation together with the corporate’s detailed Honest Worth evaluation and monetary well being metrics.

In different current information, Ondas Holdings has been actively making monetary maneuvers to bolster its development initiatives. The corporate issued new convertible notes and raised $10 million, a transaction facilitated by Oppenheimer & Co. Inc. This issuance is a part of a broader technique to finance its development initiatives and improve its product choices within the aggressive communications tools trade.

Along with this, Ondas secured an $11.5 million funding primarily to assist the expansion of its drone enterprise, Ondas Autonomous Methods. The corporate additionally issued $4.1 million in 3% Sequence B-2 Senior Convertible Notes, with internet proceeds of roughly $3.6 million supposed for basic company functions.

Regardless of reporting a difficult Q3 2024 with revenues falling to roughly $1.5 million from $2.7 million in Q3 2023, and an working lack of $8.7 million, the corporate managed to safe $14.4 million in orders for its navy expertise platforms and obtained a strategic order from Siemens (ETR:SIEGn) for Chicago’s Metra rail system.

Moreover, Ondas expanded its 2021 Inventory Incentive Plan, rising the variety of shares accessible for issuance from 8 million to 11 million. The corporate additionally obtained a 180-day extension from Nasdaq to fulfill the minimal bid worth requirement. These are among the current developments which have taken place at Ondas Holdings.

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