TLDR
- Ondas completed its acquisition of drone inspection firm Cyberhawk for $118.2M in cash plus 581,700 stock units.
- Cyberhawk brings drone-enabled inspection, AI analytics, and a global customer base in utilities, energy, renewables, mining, and industrial sectors.
- ONDS stock jumped roughly 4% to around $9.50 following the deal closing, and is up about 5% over the past week.
- Ondas granted 1.60M restricted stock units and options to purchase 1.29M shares at $9.11 to 47 newly-hired employees.
- RSI is near 75, putting ONDS in overbought territory, which could signal a short-term pullback.
Ondas (ONDS) closed its acquisition of Cyberhawk on August 10, adding a drone inspection and AI data platform to its existing autonomous systems business.
The deal was valued at $118.2 million in cash plus 581,700 units of common stock. The stock issued to Cyberhawk sellers carries a one-year lock-up, with additional trading restrictions for 18 months.
ONDS stock rose roughly 4% on the news, trading near $9.50. The stock is also up about 5% over the past week, with the move tracking closely to the deal’s closing.
Technically, ONDS is trading near its session high around $9.50. The MACD has turned sharply bullish and volume has picked up alongside the price move.
However, the RSI is sitting near 75, putting the stock in overbought territory. That raises the possibility of a short-term pullback before any further upside attempt.
What Cyberhawk Brings to Ondas
Cyberhawk operates a drone-enabled inspection platform used by infrastructure owners and operators globally. Its tools include visual data management, AI-powered analytics, and inspection services.
The company serves customers in utilities, energy, renewable energy, mining, and industrial markets. That customer base now sits inside Ondas’ portfolio.
CEO Eric Brock said the deal is expected to accelerate Ondas’ growth across high-value critical infrastructure and industrial markets. He also pointed to improved data and AI use across operations as a key goal.
Ondas already operates in defense, homeland security, public safety, and industrial markets through its autonomous systems business. Cyberhawk adds a software and services layer on top of that hardware-focused foundation.
Employee Grants Tied to the Deal
In connection with the acquisition, Ondas approved equity grants for 47 newly hired employees.
The grants include 1,601,593 restricted stock units and options to purchase 1,290,000 units at an exercise price of $9.11 per share.
The RSUs vest across three schedules. The largest portion, 1,097,687 units, vests semi-annually over two years. Another 460,000 units vest one-third on August 10, 2027, followed by eight equal quarterly installments. A smaller tranche of 43,906 units vested on the closing date.
Stock options vest one-third on August 10, 2027, then in 24 equal monthly installments after that. All vesting requires continued employment.
The grants were issued under the Nasdaq Rule 5635(c)(4) inducement grant exception, which allows equity awards for newly hired employees without shareholder approval.
Ondas said it will file a Current Report on Form 8-K with the SEC in connection with the acquisition.
ONDS was trading near $9.50 at the time of the announcement, close to its session high, with volume elevated relative to recent sessions.
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