Ondas acquires defense prime Mistral for $175M in stock; gains DoD contract access

Ondas Inc.

Total consideration $175M in Ondas common stock; $122.5M paid at closing (with escrow) and $52.5M in escrow released over 3 years.
Mistral is prime contractor on over $1B of IDIQ contracts for U.S. Army, USSOCOM, and federal agencies.
Merger expected to close in Q2 2026; provides Ondas with direct prime contractor access and U.S.-based manufacturing.
Combines Ondas' autonomous systems with Mistral's defense program execution and federal contracting infrastructure.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Ondas Inc. entered into Agreement and Plan of Merger with Mistral, Inc. and Shoshana Banai valued at Total consideration of $175,000,000 payable in shares of common stock, with portions escrowed and pa (effective 2026-03-08).

Action: entry
Agreement: merger
Counterparty: Mistral, Inc. and Shoshana Banai
Value: Total consideration of $175,000,000 payable in shares of common stock, with portions escrowed and pa
Effective: 2026-03-08

Exact text from the filing

On March 8, 2026, Ondas Inc. (the “Company”) entered into an Agreement and Plan of Merger (the “Agreement”), by and among the Company, Project Cyclone Merger Sub Inc., a Delaware corporation and a wholly owned subsidiary of the Company (“Merger Sub”), Mistral, Inc., a Delaware corporation (“Mistral”), and Shoshana Banai (the “Stockholder”).

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Ondas Inc. filing history →

Source: SEC EDGAR

accession 0001213900-26-024965

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