Ondas (ONDS) Loses 8.3% on $8.4 Million Share Sale

We precocious published 10 Big Names Stumbling Hard. Ondas Inc. (NASDAQ:ONDS) was 1 of the worst performers connected Monday.

Ondas declined for a 2nd time connected Monday, shedding arsenic overmuch arsenic 8.30 percent to extremity astatine $11.16, arsenic investors unloaded portfolios amid the imaginable dilution interaction of the caller $8.4 cardinal merchantability of convertible preferred shares.

In a regulatory filing past Friday, Ondas Inc. (NASDAQ:ONDS) said that its subsidiary, Ondas Networks Inc., entered into stock acquisition agreements with assorted lenders wherever they borrowed $16.5 cardinal of currency previously, nether which the second would person the enactment to person the debts into a full of 970,801 preferred shares, and further person them into communal shares.

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Once exercised, the inaugural would importantly assistance slash the group’s debt, but could besides effect successful a imaginable dilution successful the shares of existing communal shareholders.

The filing followed Ondas Inc.’s (NASDAQ:ONDS) quality earlier this period that it raised $1 cardinal successful caller funds from the issuance of 19 cardinal communal shares and pre-funded warrants to an organization investor. The statement besides covers pre-funded warrants to acquisition up to 41.79 cardinal communal shares.

Ondas Inc. (NASDAQ:ONDS) said that proceeds from the connection volition beryllium utilized for firm improvement and strategical growth, including acquisitions, associated ventures, and investments.

While we admit the imaginable of ONDS arsenic an investment, our condemnation lies successful the content that immoderate AI stocks clasp greater committedness for delivering higher returns and person constricted downside risk. If you are looking for an highly inexpensive AI banal that is besides a large beneficiary of Trump tariffs and onshoring, spot our escaped study connected the best short-term AI stock.

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Disclosure: None. This nonfiction is primitively published at Insider Monkey.