Latham & Watkins has advised Citizens JMP Securities, LLC, financial adviser to the board of Ondas Inc., on Ondas’ US$875.8 million acquisition of High Point UAS, LLC, which the company announced as its acquisition of DZYNE Technologies, LLC. The Latham corporate team was led by Los Angeles partner Steven Stokdyk, with associate Lauren Richardson.
Ondas completed the transaction on 2 July 2026 under a Unit Purchase Agreement covering all issued and outstanding membership interests in High Point UAS. The purchase price included approximately US$200 million in cash, of which US$12 million was placed in escrow, together with 39,999,998 Ondas shares issued at closing. A further 44,999,998 shares are due to be issued to the sellers on 4 January 2027.
The additional shares are subject to a six-month transfer restriction. If Ondas’ average daily volume-weighted share price exceeds US$20 during the 30-trading-day period before 2 January 2027, the restriction on half of those shares will continue for another six months.
Ondas relied on Rule 506 of Regulation D for the unregistered equity issuance and agreed to file prospectus supplements with the US Securities and Exchange Commission covering resale of the shares. The registration agreement restricts the volume that each seller may dispose of on a single trading day. Snell & Wilmer provided the Nevada law opinion on the legality of the shares issued at closing. Ondas must file the required acquired-business financial statements and pro forma financial information by amendment to its Form 8-K.
Highlander Partners Defense, LLC, DZYNE Management Holdings, LLC and High Flight Corporation were named as the sellers, with Highlander acting as their representative. Ondas said the former DZYNE shareholders, led by Highlander, will own approximately 13.8% of its outstanding shares. Akerman LLP advised Ondas, while Baker McKenzie acted for Highlander Partners and DZYNE Technologies. Baird served as exclusive financial adviser to DZYNE.
DZYNE will operate alongside World View within Ondas Sentinel, the company’s new US defence division. World View chief executive Ryan Hartman will lead Ondas Sentinel, while DZYNE co-founder Matt McCue will become its chief technology officer. Ondas expects DZYNE to generate US$191 million in revenue in 2026 and more than US$300 million in 2027, although those figures remain company forecasts.
The transaction involved separate mandates for the buyer, sellers, board and financial advisers, alongside a substantial listed-company share issuance. Counsel handling comparable acquisitions will need to coordinate purchase terms, registration rights, transfer restrictions and SEC reporting while maintaining clear engagement boundaries and controlled information sharing between each advisory team.