May 19, 2021
Ondas Holdings Inc. Investigation
We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Ondas Holdings Inc. (“Ondas” or the “Company”) (NASDAQ: ONDS) in connection with the Company’s proposed acquisition of American Robotics, Inc. (“American Robotics”) in a mixed cash-and-stock transaction. Under the terms of the merger agreement, Ondas will acquire American Robotics for (a) cash consideration of approximately $7,500,000, (b) 6,750,000 shares of Company common stock, (c) warrants exercisable for 1,875,000 shares of Company common stock, and (d) a potential cash payment released to the Company’s stockholders from the Company’s PPP Loan Escrow Amount. The proposed transaction is valued at approximately $70.6 million.
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