Dragonfly Energy Announces Pricing of $25.0 Million Underwritten Offering of Common Stock

Core Viewpoint - Dragonfly Energy Holdings Corp. has announced an underwritten offering of 20 million shares of common stock at $1.25 per share, aiming for gross proceeds of approximately $25 million before expenses [1]. Group 1: Offering Details - The offering includes a 30-day option for underwriters to purchase an additional 3 million shares at the public offering price [1]. - Canaccord Genuity is the sole bookrunner, while Roth Capital Partners is acting as co-manager for the offering [2]. - The offering is expected to close on or about October 7, 2025, pending customary closing conditions [1]. Group 2: Use of Proceeds - The net proceeds from the offering will be used for working capital and general corporate purposes, including the repayment of $4 million under a term loan agreement [3]. - Funds will also support initiatives aimed at driving near-term revenue and strategic investments in next-generation battery technologies, particularly in scaling the dry electrode process and solid-state batteries [3]. Group 3: Company Overview - Dragonfly Energy is a leader in lithium battery technology, specializing in cell manufacturing, battery pack assembly, and full system integration [6]. - The company is known for its Battle Born Batteries® brand and has deployed hundreds of thousands of battery packs through top-tier OEMs and a diverse retail customer base [6]. - Dragonfly Energy's patented dry electrode manufacturing process enables chemistry-agnostic power solutions for various applications, including energy storage systems and electric vehicles [6].