Akerman represented Ondas Holdings, Inc. (Nasdaq: ONDS), a leading provider of autonomous aerial and ground robot intelligence through its Ondas Autonomous Systems (OAS) business unit and private wireless solutions through Ondas Networks, in its recently completed $1 billion offering. 

Ondas intends to use the net proceeds from the offering for corporate development and strategic growth, including acquisitions, joint ventures, and investments. As a trusted advisor to Ondas across multiple stages of its growth, Akerman continues to play a key role in supporting Ondas’ strategic capital markets initiatives. 

The offering included 19 million shares of common stock and, in lieu of common stock, pre-funded warrants to purchase up to 41,790,274 shares of common stock (together, Common Stock Equivalents). Each Common Stock Equivalent was sold with a common stock warrant to purchase two shares of common stock. The total number of Common Stock Equivalents sold in the offering was 60,790,274. The Common Stock Equivalents are accompanied by warrants to purchase a total of 121,580,548 shares of common stock, referred to as common stock warrants. Ondas estimates net proceeds from the offering to be approximately $959.2 million, after deducting placement agent fees and estimated offering expenses. If the common stock warrants are fully exercised on a cash basis, Ondas has the potential to raise approximately $3.4 billion in additional gross proceeds. No assurance can be given that any of the common stock warrants will be exercised.

Oppenheimer & Co. Inc. acted as the lead placement agent for the offering. Stifel, Nicolaus & Company, Incorporated, Needham & Company, LLC, Lake Street Capital Markets, LLC, Northland Capital Markets, Ladenburg Thalmann & Co. Inc., H.C. Wainwright & Co., LLC, and Maxim Group LLC acted as co-placement agents for the offering.

The Akerman team advising Ondas included partners Christina Russo and Esther Moreno, Co-Chairs of Capital Markets; associates Taylor Jobb and Amanda Rementeria, with support from Capital Markets partner Tara Jackson; partner Brian Bianco, Chair, Intellectual Property; and partner Ryan Roman, Litigation.

About Akerman
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