Dragonfly Energy announces public offering of stock and warrants

Dragonfly Energy Holdings Corp. (NASDAQ: DFLI) announced an underwritten public offering of common stock shares and pre-funded warrants to purchase common stock shares. The company plans to grant the underwriter a 30-day option to purchase up to an additional 15% of the securities at the public offering price, less underwriting discounts and commissions.

Canaccord Genuity serves as the sole bookrunner for the proposed offering. The company stated the offering remains subject to market and other conditions, with no assurance regarding completion timing or final terms.

Dragonfly Energy intends to use net proceeds for working capital and general corporate purposes, including debt repayment in the ordinary course of business. The offering operates under a shelf registration statement on Form S-3 that the Securities and Exchange Commission declared effective on November 24, 2023.

The Reno, Nevada-based company operates in energy storage and battery technology, manufacturing lithium battery cells and assembling battery packs. Through its Battle Born Batteries brand, Dragonfly Energy produces batteries for energy storage systems, electric vehicles, and consumer electronics applications.

A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and made available on the commission's website. The company noted that completion of the offering depends on market conditions and satisfaction of customary closing conditions.

You May Also Be Interested In

• Autonomix Medical raises $4.9M via warrant inducement agreement
• Greenland Mines releases $2.05B valuation study for Sarfartoq REE project
• DraftKings closes $700M term loan and $750M revolving credit facility