Ondas Holdings Inc. Announces Pricing of $30 Million Follow-On Public Offering of Common Stock

Ondas Holdings Inc. (OTCQB: ONDSD), through its wholly owned subsidiary Ondas Networks Inc., a developer of privately licensed wireless data networks for critical industrial markets (the “Company”), today announced the pricing of the signed public offering of 5,000,000 shares of common your shares at a bid price of $ 6.00 per share (“Offering”). The company expects gross revenue from the Offer to be approximately $ 30.0 million before deducting the subscription discount and other estimated bid costs. The company also provided insurers with a 30-day option to purchase an additional 750,000 shares of common stock offered on the public market.

The Company intends to use the net proceeds of the Offer: (1) to continue research and development of future configurations on its FullMAX platform; (2) to establish a list of products and to support the expected increased levels of customer sales activity; (3) provided that the Company receives gross income of not less than USD 20.0 million from the Offer, to repay approximately USD 5.0 ​​million of principal and accrued interest under the Loan and Security Agreement, which is due on September 9, 2021. i) for other general corporate purposes.

Shares of common stock are expected to begin trading on The Nasdaq Capital Market on December 4, 2020 under the symbol “ONDS”. The offer is expected to end on December 8, 2020, subject to the usual closing conditions.

Oppenheimer & Co. Inc. acts as the sole book delivery manager. The National Securities Corporation acts as a lead manager. Northland Capital Markets and Spartan Capital Securities, LLC act as co-managers of the Offer. Akerman LLP serves as the company’s legal advisor and White & Case LLP serves as the insurer’s legal advisor.

A registration declaration relating to these securities was declared effective by the US Securities and Exchange Commission on 3 December 2020. The offer is made only by means of a prospectus forming part of the effective registration declaration. A copy of the final prospectus relating to these securities will be submitted to the US Securities and Exchange Commission and may be obtained, where available, from: Oppenheimer & Co. Inc., Attn: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, NY 10004, by phone at (212) 667-8055 or by email at EquityProspectus@opco.com. This press release does not constitute an offer to sell or a request for an offer to buy, nor will there be a sale of these securities in any country or jurisdiction where such an offer, request or sale would be illegal prior to registration or qualification under the laws for the securities of any such State or jurisdiction.

About Ondas Holdings Inc.

Ondas Holdings Inc., through its wholly owned subsidiary Ondas Networks Inc., is a developer of privately licensed wireless data networks for critical industrial markets. The company designs and manufactures its highly patented, software-defined radio (SDR) platform for mission-critical IoT (MC-IoT) applications. Ondas Networks’ customer markets include utilities, oil and gas, transportation and government, whose requirements cover a wide range of critical applications that require secure communication in large and diverse geographical areas, many of which are in challenging radio frequency environments. Customers use the company’s SDR technology to deploy their own licensed broadband wireless networks. The company also offers critical network service to mission-critical sites. Ondas Networks’ SDR technology supports IEEE 802.16s, the new global standard for privately licensed large-scale industrial networks. For more information, visit www.ondas.com,, www.otcmarkets.com or follow Ondas Networks on Twitter and LinkedIn.

Statements for the future

The statements made in this Communication, which are not statements of historical or current facts, are “forward-looking statements” within the meaning of the Private Securities Reform Act of 1995. We warn readers that forward-looking statements are forecasts based on our current expectations about future events.

These forward-looking statements are not a guarantee of future results and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, results or achievements may differ materially from those expressed or implied in the forward-looking statements as a result of a number of factors, including the risks discussed under the heading “Risk Factors” in our Annual Report Form 10-K The US Securities and Exchange Commission (‘SEC’) on 13 March 2020, in our Quarterly Report Form 10-Q, submitted to the SEC on 6 November 2020, and in our other declarations to the SEC. We undertake not to update publicly or to review any forward-looking statements, whether as a result of new information, future events or otherwise occurring after that date, unless required by law.

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Contact with the investor:
Stewart Office, Chief Financial Officer
Ondas Holdings Inc.
888.350.9994 External 1009

For contacts with the media:
Dan Ganie / Jeff Matthews
Gagnier Communications