Dragonfly Energy Announces Exchange of Remaining Outstanding Shares of Series A Convertible Preferred Stock

Core Viewpoint - Dragonfly Energy Holdings Corp. has entered into a Settlement and Mutual Release Agreement to eliminate all outstanding shares of its Series A Convertible Preferred Stock, enhancing its financial flexibility and capital structure [1][2][3] Financial Impact - The company will issue 2,100,000 shares of common stock in exchange for the surrender of all outstanding Series A Preferred Stock, fully satisfying its obligations under related agreements [2] - This strategic move is expected to remove potential future dilution concerns and improve the company's capital structure [3] Company Overview - Dragonfly Energy is a leader in energy storage and battery technology, specializing in lithium battery manufacturing and system integration [5] - The company is known for its Battle Born Batteries® brand and has established a strong presence in the lithium battery industry with a diverse customer base [5] - Dragonfly Energy aims to advance clean energy technologies, focusing on the development of nonflammable, all-solid-state battery cells [5]