Ondas (ONDS) Note Holder Purchases Additional $11.5M of Convertible Notes

Investment to support the growth of Ondas Autonomous Systems (OAS) which has experienced substantial demand including $14.4 million in orders in Q3 2024

This represents the note holder's fourth investment in Ondas Holdings convertible notes, demonstrating their confidence in the Company's drone technologies and its ability to execute on substantial market opportunity

Ondas Holdings Inc. (NASDAQ: ONDS) ("Ondas Holdings" or the "Company"), a leading provider of private industrial wireless networks and commercial drone and automated data solutions, announced today that a note holder has elected to purchase $11.5 million in aggregate principal amount of 3% senior convertible notes due 2026 (the "Offering"). Also, if elected by the note holder, Ondas Holdings may complete additional closings of up to an additional $18.9 million in aggregate principal amount. The proceeds from the investment in Ondas Holdings will be used for general corporate purposes and will be primarily allocated to supporting the growth of the Company's drone business, Ondas Autonomous Systems (OAS).

"We appreciate the ongoing support from our investors as we execute our growth plan, and work to expand the global market opportunities for our OAS business," stated Eric Brock, Chairman and CEO of Ondas Holdings. "As we fulfill the $14.4 million in orders secured in Q3 2024, we recognize the need to further develop our operational capabilities, which include boosting inventory production to meet an anticipated increase in demand in 2025. Furthermore, we see a strengthening demand tailwind as global defense and security markets look to modernize capabilities, as well as an increasing interest in both our Iron Drone and Optimus platforms as critical tools to protect and secure critical locations and populations. We plan to broaden our sales, marketing, and support activities worldwide to seize this opportunity, particularly in the large US markets."

Oppenheimer & Co. Inc. will act as placement agent in connection with the Offering.

For additional information regarding the Offering, please see the Form 8-K to be filed by the Company.

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