Ondas Holdings Inc. (ONDS) saw its stock price plummet 5.10% during intraday trading on Wednesday, marking a significant decline for the wireless technology company.

The sharp drop appears to be directly linked to the company's filing of a prospectus supplement covering the resale of 2,351,833 unregistered shares of common stock. These shares were previously issued in connection with Ondas' acquisition of Mistral and were part of an unregistered sale exempt under Regulation D. The prospectus filing indicates these shares may now enter the public market, potentially increasing selling pressure and diluting existing shareholders.