Form 4: Ondas Holdings Inc. Director Reports Warrant Transfers
SEC Form 4
Joseph V. Popolo, a director and 10% owner of Ondas Holdings Inc., reported the assignment of warrants to Stage 1 Growth Fund LLC Series WAVE on May 31, 2024.
Summary
- On May 31, 2024, Joseph V. Popolo, a director and 10% owner of Ondas Holdings Inc. (ONDS), filed a Form 4.
- The form details the assignment of warrants from Stage 1 Growth Fund LLC (Series WAVE, Class A) to Stage 1 Growth Fund, LLC Series Wave.
- Specifically, a warrant dated August 11, 2023, for 2,374,208 shares and a warrant dated July 21, 2023, for 7,825,792 shares were assigned.
- Following the assignment, C&P indirectly holds a warrant through the New SPV, to purchase 3,864,542 shares of common stock, par value $0.0001 per share, of the issuer.
- Popolo is the sole control person of CFO Fund GenPar, LLC, which is the Managing Member of Charles & Potomac Capital, LLC (C&P).
- C&P acts as the proxy for the members of the SPV and directs the exercise and voting of the issuer's securities held by the SPV.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing warrant transfers, with no inherent positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to changes in beneficial ownership, which is common for directors and significant shareholders of publicly traded companies. It provides transparency to the market regarding the holdings and transactions of company insiders.
Stakeholder Impact
- The assignment of warrants could potentially impact shareholders if the warrants are exercised, leading to dilution of existing shares.
Key Dates
| Date | Description |
|---|---|
| 10/19/2023 | Date of warrant issuance for 7,825,792 shares and 3,864,542 shares. |
| 11/09/2023 | Date of warrant issuance for 2,374,208 shares. |
| 05/31/2024 | Date of warrant assignment from Stage 1 Growth Fund LLC (Series WAVE, Class A) to Stage 1 Growth Fund, LLC Series Wave. |
| 06/04/2024 | Date of signature on the Form 4. |
| 07/21/2028 | Expiration date of warrant for 7,825,792 shares and 3,864,542 shares. |
| 08/11/2028 | Expiration date of warrant for 2,374,208 shares. |
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