Ondas (ONDS) Stock Jumps 4% as $118M Cyberhawk Acquisition Closes
TLDR
- Ondas completed its acquisition of drone inspection firm Cyberhawk for $118.2M in cash plus 581,700 stock units.
- Cyberhawk brings drone-enabled inspection, AI analytics, and a global customer base in utilities, energy, renewables, mining, and industrial sectors.
- ONDS stock jumped roughly 4% to around $9.50 following the deal closing, and is up about 5% over the past week.
- Ondas granted 1.60M restricted stock units and options to purchase 1.29M shares at $9.11 to 47 newly-hired employees.
- RSI is near 75, putting ONDS in overbought territory, which could signal a short-term pullback.
Ondas (ONDS) closed its acquisition of Cyberhawk on August 10, adding a drone inspection and AI data platform to its existing autonomous systems business.
The deal was valued at $118.2 million in cash plus 581,700 units of common stock. The stock issued to Cyberhawk sellers carries a one-year lock-up, with additional trading restrictions for 18 months.
ONDS stock rose roughly 4% on the news, trading near $9.50. The stock is also up about 5% over the past week, with the move tracking closely to the deal’s closing.
… Continue reading the full article at the original source below.
This content is automatically aggregated. Full credit goes to the original publisher (coincentral.com).
