Ondas Holdings Inc. (ONDS) saw its stock price surge 5.09% in intraday trading, driven by two significant developments announced by the company. The provider of private industrial wireless networks and commercial drone solutions has successfully closed a public offering and made a strategic addition to its advisory board.

The company reported the closing of its underwritten public offering, which raised approximately $163 million in net proceeds. The offering included 53.08 million shares of common stock, with the underwriter exercising their over-allotment option in full. Ondas plans to utilize these funds for working capital, general corporate purposes, and potential strategic transactions, including acquisitions and investments. This successful fundraising effort demonstrates investor confidence in the company's future prospects and provides Ondas with significant financial resources to fuel its growth strategies.

In a separate announcement, Ondas Holdings appointed Dr. Irit Idan to the Advisory Board of Ondas Autonomous Systems (OAS). Dr. Idan, an expert in AI, robotics, and defense innovation, will join Yaniv Rotem on the advisory board. This strategic appointment is expected to strengthen the company's leadership in autonomous defense and homeland security systems, potentially opening up new market opportunities and enhancing the company's competitive position in the rapidly evolving autonomous systems sector.