Ondas Holdings Inc. (ONDS) saw its stock soar by 5.09% during intraday trading on Friday, as the company announced the successful closing of its public offering and a strategic addition to its advisory board. The surge in stock price reflects investor optimism about the company's future prospects and financial position.

The company reported closing its underwritten public offering, raising approximately $163 million in net proceeds. The offering included 53.08 million shares of common stock, with the full exercise of the over-allotment option by the underwriter. Ondas plans to utilize these funds for working capital, general corporate purposes, and potential strategic transactions, including acquisitions and investments. This significant capital raise strengthens the company's financial position and provides resources for future growth initiatives.

In addition to the successful offering, Ondas Holdings announced the appointment of Dr. Irit Idan to the Advisory Board of Ondas Autonomous Systems. Dr. Idan, with her extensive expertise in AI, robotics, and defense innovation, is expected to guide the company in advancing its leadership in autonomous defense and homeland security. This strategic appointment, alongside existing board member Yaniv Rotem, signals Ondas' commitment to enhancing its technological capabilities and expanding its global presence in the autonomous systems market.