Dragonfly Energy prices $25 million stock offering at $1.25 per share

Dragonfly Energy Holdings Corp. (NASDAQ: DFLI) announced the pricing of an underwritten public offering of 20 million shares of common stock at $1.25 per share, generating gross proceeds of approximately $25 million before fees and expenses.

The battery technology company has granted underwriters a 30-day option to purchase up to an additional 3 million shares at the same price, less underwriting discounts and commissions. The offering is expected to close on or about October 7, 2025, subject to customary closing conditions.

Canaccord Genuity serves as sole bookrunner for the offering, with Roth Capital Partners acting as co-manager.

The company plans to use net proceeds for working capital and general corporate purposes, including repaying $4 million under its term loan agreement. Additional funds will support investments in near-term revenue initiatives and strategic investment in next-generation battery technologies, including scaling its dry electrode process and solid-state battery applications.

The offering is conducted under a shelf registration statement on Form S-3 that became effective with the Securities and Exchange Commission on November 24, 2023.

Dragonfly Energy operates as a lithium battery technology company specializing in cell manufacturing, battery pack assembly, and system integration through its Battle Born Batteries brand. The company focuses on domestic lithium battery cell production using a dry electrode manufacturing process for energy storage systems, electric vehicles, and consumer electronics applications.

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