Dragonfly Energy Pursues Growth with New Stock Offering

Dragonfly Energy Commences Public Offering
Dragonfly Energy Holdings Corp. (NASDAQ: DFLI), a prominent player in energy storage and battery technology, has taken a significant step forward by announcing a public offering of its common stock. This underwritten offering also includes pre-funded warrants for investors who prefer this option.
Details of the Offering
The proposed public offering involves common stock shares along with a provision for a 30-day option that allows the underwriter to purchase up to an extra 15% of the offered securities. This flexibility provides a potential amplification of resources depending on market conditions and demand.
Use of Proceeds from the Offering
Dragonfly Energy plans to allocate the proceeds from this offering for multiple purposes including working capital and addressing outstanding debts. Notably, the company aims to prepay $45 million under its term loan agreement as part of a broader restructuring of its financial obligations. Such measures are vital to ensure the company's sustainable growth and innovation in the competitive energy sector.
Strategic Investments for Future Growth
In addition to debt management, Dragonfly Energy is committed to investing in initiatives designed to enhance revenue generation in the near term. The strategic emphasis will also be directed toward advancing next-generation battery technologies, particularly focusing on the scaling of its patented dry electrode manufacturing process and its application in solid-state battery solutions. These innovations are pivotal in maintaining Dragonfly’s competitive edge in the rapidly evolving energy storage landscape.
Overview of Dragonfly Energy
Dragonfly Energy Holdings Corp. is renowned for its expertise in lithium battery technology. The company excels in cell manufacturing, battery pack assembly, and full system integration. Their flagship brand, Battle Born Batteries, is a testament to their commitment to quality and reliability, having deployed hundreds of thousands of battery packs via leading OEMs. By focusing on a chemistry-agnostic manufacturing process, Dragonfly Energy meets diverse applications, spanning energy storage systems, electric vehicles, and consumer electronics, all while emphasizing the development of non-flammable, all-solid-state battery cells.
Investor Relations Contact
For investor inquiries, Eric Prouty and Szymon Serowiecki from AdvisIRy Partners are available. You can reach them at DragonflyIR@advisiry.com.
Frequently Asked Questions
What is the purpose of Dragonfly Energy's public offering?
The offering aims to raise capital for working expenses, debt repayment, and strategic investments in technology.
Who is managing the underwritten offering?
Canaccord Genuity is acting as the sole bookrunner for the public offering.
What are Dragonfly Energy's future plans?
The company plans to focus on innovative battery technologies and expand its market presence through sustainable practices.
How does Dragonfly Energy's technology stand out?
Dragonfly Energy utilizes a patented dry electrode manufacturing process that allows for diverse applications in energy storage.
Who can I contact for more information on investments?
For investment inquiries, you can reach out to Eric Prouty and Szymon Serowiecki at AdvisIRy Partners via email.
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