SeekTheAlpha

Taxes must be paid, but I am happy to have increased my position in Ondas by nearly 150% this year from 1.9M to 4.8M shares. This reflects shares that I have both purchased (via the OAS exchange early this year) and now earned via RSU grants that vested this week, both net of tax considerations. The shares I received this week where the first award I have earned since joining Ondas in 2017. There is a lot more work ahead. 👊🏽

I'll go ahead and put my rev target at $300M for 2026 for $ONDS - too many tailwinds in the sector. My only concern is and always has been rare earth magnets where China is looking to ban them from military use for US. But, keep in mind, our NDAA compliant supply chains aren't just in the US.

$ONDS 🚨 Key Details on Ondas/Mistral Merger: Ondas is buying Mistral for $175 million paid 100% in $ONDS stock. Deal Structure: • $122.5 million right away (or soon after close): • $17.5M held in escrow (for protections/guarantees). • $105M split into 7 equal payments (~$15M each) within 20 days after closing. • $52.5 million held back and paid later: • Half ($26.25M) after 1 year. • Quarter ($13.125M) after 2 years. • Quarter ($13.125M) after 3 years. All shares get registered so sellers can trade them later. Dilution? Low and Spread Out: • Current shares outstanding: ~450 million • New shares for $175M: Roughly 18 million (at current price). • Total dilution: About 4% (new shares / current shares). Most comes upfront, but some spread over 3 years. • If stock price rises at issuance, even less dilution (fewer shares needed). For a company worth ~$4.4B, adding a prime defense contractor with big DoD access for only ~4% dilution is a great deal. It boosts $ONDS in drones, counter-drone tech, and government contracts with minimal share pain.