M&A
confidence high
sentiment neutral
materiality 0.85
Ondas Inc. (ONDS): M&A transaction — Ondas completes $225M acquisition of Sentry CS; $125M cash + up to $100M stock
Ondas Inc.
- Total consideration $225M: $125M cash ($117.5M at close, $7.5M deferred) and up to $100M in ONDS common stock.
- At closing, 4,096,700 shares (~$29.4M) issued; additional stock up to $22.5M due on each of three future payment dates.
- Sellers face daily trading limit of 10% of 10-day average volume for shares received.
- Registration Rights Agreement filed to permit resale of shares issued as consideration.
- Financial statements required for the acquisition will be filed by amendment within 71 days.