On June 25, Ondas Holdings fell 8.09% in regular trading, trading at $7.845/share, with turnover of $339 million. The decline was triggered by a SEC filing revealing that existing shareholders of Ondas affiliate NOW plan to sell 6.1 million shares of common stock.

According to the filing, the shares offered are entirely from selling shareholders, and the company itself is not issuing new stock. The planned disposal by affiliated shareholders raised concerns over near-term selling pressure on the stock.

Notably, Ondas announced on June 18 a definitive agreement to acquire Cyberhawk, a global leader in drone inspection and AI-powered asset analytics, for approximately $125 million. Under the deal terms, roughly 95% of the consideration will be funded via cash, with select Cyberhawk executives rolling about $5 million into Ondas common stock subject to a one-year lock-up. The transaction is expected to close in Q3, pending customary conditions and regulatory approvals. The combination of a large cash outlay for the acquisition and the shareholder share sale filing appears to have intensified investor concern.

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