Houlihan Lokey Advises PDW Holdings
PDW has raised $110m from a group of investors led by Ondas
Financial Advisor
Houlihan Lokey is pleased to announce that PDW Holdings, Inc. (PDW), an American drone company that designs, engineers, and manufactures unmanned systems and solutions for defense and public safety, has closed its Series B financing, raising more than $110 million. The financing was led by Ondas and included participation from Hood River, Cedar Pine, Hanwha Asset Management’s venture fund, Booz Allen Hamilton, and existing and new investors. Houlihan Lokey served as the exclusive financial advisor to PDW in connection with this landmark defense technology transaction.
Headquartered in Huntsville, Alabama, PDW was launched by elite engineers, drone pilots, and U.S. Special Operations veterans, emerging from the high-octane world of the Drone Racing League. The company develops and mass manufactures combat robotic systems and software that deliver advanced surveillance, electronic warfare, and strike capabilities for the U.S. and its allies. PDW supports contracts with every branch of the U.S. military, as well as federal, local, and international public safety entities.
The company delivers an integrated portfolio of deployable unmanned systems and software designed to expand mission capability and maintain performance in contested environments, including the C100 quadcopter, the attritable munition strike drone, the SIM flight simulator, CORE mission planning software, Multi-Mission Payloads (MMP), Range Extension Kit, and an anti-jam radio.
The net proceeds from the Series B financing will be used to fund future growth initiatives and ramp production of PDW’s multi-mission drones, among other strategic programs.
Houlihan Lokey acted as the exclusive financial advisor to PDW, running a targeted process with selected strategic and financial investors to secure a high-quality, long-term capital base aligned with PDW’s mission. Working closely with management throughout the process, Houlihan Lokey delivered a strong outcome that will support PDW’s growth.
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