Ondas Holdings, which provides a software-defined radio system to create private broadband networks, withdrew its plans for an initial public offering on Thursday. It last filed in July, when it set terms to raise $47 million by offering 7.2 million shares at a price of $6.50, the last close of its shares on the OTCQB (ONDS).
The Sunnyvale, CA-based company was founded in 2006 and booked $193,000 in sales for the 12 months ended March 31, 2019. It had planned to list on the NYSE American under the symbol ONDS. BTIG was set to be the sole bookrunner on the deal.
