Dragonfly Energy prices $55.4 million public offering at $1.35 per share

Dragonfly Energy Holdings Corp. (NASDAQ: DFLI) announced the pricing of an underwritten public offering of 36 million shares of common stock at $1.35 per share and pre-funded warrants to purchase up to 5 million shares at $1.3499 per warrant. The offering is expected to generate gross proceeds of approximately $55.4 million before underwriting discounts and expenses.

The company has granted underwriters a 30-day option to purchase up to an additional 6.15 million shares at the public offering price, less underwriting discounts and commissions. The offering is expected to close on October 17, 2025, subject to customary closing conditions.

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

Dragonfly Energy plans to use the net proceeds for working capital and general corporate purposes, including prepayment of $45 million in outstanding debt under its term loan agreement as part of a proposed debt restructuring. The company also intends to invest in revenue-driving initiatives and next-generation battery technologies, including scaling its dry electrode process and solid-state battery applications.

The offering is being conducted under a shelf registration statement filed with the Securities and Exchange Commission that became effective in November 2023. The Nevada-based company specializes in lithium battery technology, cell manufacturing, and battery pack assembly through its Battle Born Batteries brand.

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