Ondas Shares Gain After Resale Filing, Drone Orders in Focus
Ondas Inc. shares climbed Monday, shrugging off a fresh SEC filing that could boost the company’s share count. ONDS last traded at $9.69, up nearly 4% on the day after ranging between $9.45 and $10.01. Growth and tech stocks had a solid day, with the Nasdaq up 3% and the S&P 500 adding about 1.9% as sentiment picked up. Ondas didn’t announce a capital raise. In an 8-K on Monday, the company said it registered the possible resale “from time to time” of 6,070,948 shares owned by certain holders. Of those, 3,019,066 are from the Omnisys Ltd. buy, and 3,051,882 relate to the Indo Earth Moving Ltd. deal. Registering for resale allows those holders to sell some or all shares, but there’s no guarantee they will or that the company will get any new money.