Ondas Holdings Inc. (NasdaqCM:ONDS) and American Robotics, Inc. entered into a definitive agreement to acquire Assests of Ardenna Inc. for $6 million on March 20, 2022. The consideration for the acquisition is $900,000 in cash and 780,000 shares of the Ondas's common stock. In connection with the acquisition, the parties have entered into a Registration Rights and Lock-Up Agreement, which requires Ondas to file a resale registration statement covering the resale of the Ardenna Consideration Shares no later than ninety (90) days after the closing date and restricts the holder from transferring the Ardenna Consideration Shares for 180 days from the closing date, subject to certain exceptions.

This acquisition is subject to customary closing conditions and is expected to close in the second quarter of 2022.