Ondas Holdings Inc. Announces Reverse Stock Split of Common Stock
Ondas Holdings Inc. (OTCQB: ONDS), through its wholly owned subsidiary Ondas Networks Inc., a developer of privately licensed wireless data networks for critical industrial markets (the “Company”), announced today that it will make a one-for-three backup the shares of its issued and unpaid ordinary shares. According to the certificate of change submitted to the Secretary of State of Nevada, the reverse division of shares will take effect at 17:31, Eastern Time, on November 13, 2020. The company expects that after the opening of trading on November 16, 2020 its ordinary shares will be traded on OTCQB on the basis of a split adjustment under the current trading symbol “ONDS” and the new CUSIP number 68236H 204.
As a result of the re-division of shares, no partial shares will be issued. All partial shares that would arise as a result of the re-division of shares will be rounded to the nearest whole share. After the reverse division of the shares, the Company will have 116,666,667 ordinary shares and about 19,796,029 ordinary shares.
Shareholders of records are not required to send their current stock certificates or proof of subscription or other electronic exchange items. After the efficiency of the reverse division of the shares, each certificate for shares and subscription or other electronic position, representing issued and represented shares from the ordinary shares of the Company, will be automatically adjusted. These shareholders holding ordinary shares in the name of a street will receive instructions from their brokers if they need to take any action regarding the re-division of shares.
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 Securities and Exchange Commission (SEC) on March 13, 2020, and in our other SEC statements. 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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Stewart Office, Chief Financial Officer
Ondas Holdings Inc.
888.350.9994 External 1009