Dragonfly Energy Secures $25 Million in Stock Offering
RENO, Nev. — Dragonfly Energy Holdings Corp. (“Dragonfly Energy” or the “Company”) (NASDAQ: DFLI), a leader in battery technology and energy storage solutions, has recently completed a significant underwritten offering. The offering involved issuing 20 million shares of common stock at a price of $1.25 each, resulting in gross proceeds of approximately $25 million. This amount is before the deduction of any underwriting fees, commissions, and additional offering costs. The entire stock offering is being provided by Dragonfly Energy.
Details of the Offering
In this transaction, Dragonfly Energy has also provided the underwriters a 30-day option to acquire an additional 3 million shares of its common stock at the same price, which may further increase the proceeds of the offering. This offering is projected to finalize around October 7, 2025, pending the fulfillment of standard closing conditions.
Involvement of Bookrunners
Canaccord Genuity is serving as the sole bookrunner for this offering, while Roth Capital Partners is acting as a co-manager. Together, these firms are managing one of the most important equity offerings for Dragonfly Energy.
Use of Proceeds
The net proceeds from this stock offering will be utilized for various corporate needs. Specifically, the company plans to allocate these funds for general working capital, which includes the repayment of $4 million under an existing term loan agreement. Moreover, the investment will help support projects designed to enhance near-term revenue and further invest in cutting-edge battery technologies. This includes scaling the dry electrode process, which holds promise for improving the efficiency and performance of next-generation solid-state batteries.
Company Overview
Dragonfly Energy Holdings Corp. is a distinguished company specializing in lithium battery technology. Its expertise encompasses cell manufacturing, battery pack assembly, and comprehensive system integration. Through its famous Battle Born Batteries brand, Dragonfly has become a prominent figure in the lithium battery market, recognized for deploying hundreds of thousands of reliable battery packs in diverse applications. The company is at the forefront of domestic lithium battery cell production, with its innovative dry electrode manufacturing process enabling the delivery of chemistry-neutral power solutions suitable for a variety of uses, including energy storage systems, electric vehicles, and consumer electronics. Dragonfly’s commitment to innovation is evident in its ambition to develop non-flammable, all-solid-state battery cells.
Future Plans and Innovations
Dragonfly Energy is steadfastly pursuing advancements in clean energy, ensuring it remains a competitive player in the market. The company continually seeks out opportunities to refine its technologies, aiming to meet the rising demand for sustainable energy solutions.
Investor Relations
For those interested in more information or insights regarding developments at Dragonfly Energy, the company is committed to keeping its investors informed. The Investor Relations team, composed of Eric Prouty and Szymon Serowiecki from AdvisIRy Partners, can be contacted for inquiries. Their email for investor communications is DragonflyIR@advisiry.com.
Frequently Asked Questions
What is the main goal of the stock offering?
The offering aims to raise funds for general working capital, debt repayment, and investment in battery technology development.
Who are the financial representatives for this offering?
Canaccord Genuity is acting as the sole bookrunner, with Roth Capital Partners serving as co-manager.
What specific technologies is Dragonfly Energy investing in?
Dragonfly is focusing on advancing its dry electrode process and exploring solid-state battery applications.
When is the expected closing date for the offering?
The anticipated closing date is on or about October 7, 2025, subject to the fulfillment of customary closing conditions.
Where can investors find more information about Dragonfly Energy?
Investors can visit the company's investor relations page for updates and information about ongoing projects and offerings.
