Dragonfly Energy Stock Falls After 100% Move

Core Viewpoint - Dragonfly Energy Holdings Corp is experiencing a decline in share price following the announcement of a public offering of 20 million shares at $1.25 each, aiming to raise approximately $25 million in gross proceeds [1][5]. Group 1: Public Offering Details - The company has priced its underwritten public offering at $1.25 per share, with a total of 20 million shares being offered, which is expected to generate around $25 million before fees and expenses [1]. - Underwriters have a 30-day option to purchase an additional 3 million shares at the same price, excluding underwriting discounts and commissions [1]. Group 2: Use of Proceeds - The proceeds from the offering will be utilized for working capital and general corporate purposes, including repaying $4 million under its term loan [3]. - The company plans to fund initiatives that generate near-term revenue and advance next-generation battery technologies, particularly focusing on scaling its dry electrode process and solid-state battery development [3]. Group 3: Stock Performance - Dragonfly's shares have seen a significant increase of 423.1% over the past month, but are still down 55.2% year-to-date, despite a 117.6% increase in the last six months [5]. - Following a 100% jump in share price due to funding announcements, the stock was down 23.21% at $1.45 at the time of publication [5].