Optics and imaging systems company LightPath Technologies, aerial and ground robot firm Ondas Holdings, and drone component provider Unusual Machines have formed a strategic partnership. According to a press release, Light Path has entered into a definitive agreement with Ondas and Unusual Machines to provide working capital for the advancement of “key LightPath commercialization initiatives and for general corporate purposes.”

The deal includes an $8.0 million private placement of LightPath's Class A common stock. The private placement “consists of the sale of 1,600,000 shares of common stock at a price of $5.00 per share which each of Ondas Holdings, Inc. and Unusual Machines, Inc. will purchase $4 million of shares.”

Commenting on the deal, LightPath CEO Sam Rubin said, "Securing partnerships with two notable drone industry players is an important strategic milestone for LightPath to advance the use of our uncooled camera technology's use in drones. Through these partnerships we will leverage our complementary strengths to advance the use of infrared cameras for customers in commercial, defense and government sectors.”

The offering is expected to close on or about September 17, 2025, subject to the satisfaction of customary closing conditions.

Source: Press Release