Ondas (NASDAQ: ONDS) details 1,622,607-share resale filing
Rhea-AI Filing Summary
Ondas Inc. filed a prospectus supplement to an effective shelf registration statement on Form S-3ASR covering the potential resale, from time to time, by certain stockholders of 1,622,607 shares of its common stock. These shares were previously issued to those stockholders in connection with Ondas’ acquisition of 100% of the issued and outstanding share capital of Sentry CS Ltd., an Israeli company. The company notes that the original issuance of these shares was exempt from Securities Act registration under Regulation S and Regulation D. A legal opinion from Snell & Wilmer L.L.P. regarding the validity of the shares is filed as an exhibit.
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FAQ
What did Ondas Inc. (ONDS) disclose in this 8-K filing?
Ondas Inc. disclosed that it filed a prospectus supplement to an effective Form S-3ASR registration statement to cover the potential resale of 1,622,607 shares of its common stock by certain stockholders.
How many Ondas Inc. shares are covered by the new resale prospectus?
The prospectus supplement covers the potential resale of 1,622,607 shares of Ondas Inc. common stock, par value $0.0001 per share.
Where did the 1,622,607 Ondas Inc. shares originally come from?
The 1,622,607 shares were acquired by certain stockholders in connection with Ondas Inc.’s acquisition of 100% of the issued and outstanding share capital of Sentry CS Ltd., a company organized under the laws of the State of Israel.
What securities law exemptions applied to the original issuance of the Ondas shares?
The original issuance of the shares described in Item 8.01 was stated to be exempt from Securities Act registration requirements under Regulation S and Regulation D.
What legal opinions were filed with this Ondas Inc. 8-K?
Ondas Inc. filed an opinion of Snell & Wilmer L.L.P. regarding the legality of the shares as Exhibit 5.1, along with a related consent included in that exhibit.
Does this Ondas Inc. filing relate to a prior acquisition?
Yes. The shares covered by the resale prospectus were issued to stockholders in connection with Ondas Inc.’s previously disclosed acquisition of Sentry CS Ltd.