Ondas, which provides a software-defined radio system to create private broadband networks, filed on Monday with the SEC to raise up to $25 million in a public offering on the Nasdaq. The company is currently listed on the OTCQB under the ticker ONDS and previously filed to uplist on the NYSE American in April of 2019. Ondas withdrew its previous application in August of the same year.
Ondas designs, develops, manufactures, sells and supports FullMAX, the company's patented, Software Defined Radio (“SDR”) platform for secure, licensed, private, wide-area broadband networks. Ondas' customers install FullMAX systems in order to upgrade and expand their legacy wide-area network (“WAN”) infrastructure. The company's MC-IoT intellectual property has been adopted by the Institute of Electrical and Electronics Engineers (IEEE), the leading worldwide standards body in data networking protocols, and forms the core of the IEEE 802.16s standard.
The Sunnyvale, CA-based company was founded in 2006 and booked $1 million in sales for the 12 months ended June 30, 2020. It plans to list on the Nasdaq under the symbol ONDS. Oppenheimer & Co. acted as sole bookrunner on the deal. No pricing terms were disclosed.
