Ondas (ONDS) said Tuesday it has priced a $200 million underwritten offering of 40 million shares at $5 apiece.

The company said it granted underwriters a 30-day option to buy up to 6 million additional shares.

Ondas said the offering will likely close around Wednesday and that net proceeds will be used for acquisitions and investments, among other things.

Shares of the company were down almost 11% in recent Tuesday premarket activity.