Ondas Holdings, which provides a software-defined radio system to create private broadband networks, announced terms for its IPO on Monday.

The Sunnyvale, CA-based company plans to raise $30 million by offering 2.9 million shares at $10.40, the last close of its shares on the OTCQB (ONDSD). At the proposed price, Ondas Holdings would command a fully diluted market value of $246 million.

Ondas designs, develops, manufactures, sells and supports FullMAX, the company’s patented, Software Defined Radio (“SDR”) platform for secure, licensed, private, wide-area broadband networks. Ondas’ customers install FullMAX systems in order to upgrade and expand their legacy wide-area network (“WAN”) infrastructure.

Ondas Holdings was founded in 2006 and booked $2 million in sales for the 12 months ended September 30, 2020. It plans to list on the Nasdaq under the symbol ONDS. Oppenheimer & Co. is the sole bookrunner on the deal.

The article Radio network provider Ondas sets terms for $30 million IPO originally appeared on IPO investment manager Renaissance Capital’s web site renaissancecapital.com.

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