Core Viewpoint - Dragonfly Energy Holdings Corp. has successfully closed an underwritten offering of 23 million shares of common stock, raising approximately $28.75 million in gross proceeds at a price of $1.25 per share [1][3]. Group 1: Offering Details - The offering included the full exercise of the underwriters' option to purchase an additional 3 million shares [1]. - Canaccord Genuity acted as the sole bookrunner, while Roth Capital Partners served as co-manager for the offering [2]. - The offering was conducted under a shelf registration statement declared effective by the SEC on November 24, 2023 [4]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for working capital and general corporate purposes, including the repayment of $4 million under a term loan agreement [3]. - The company plans to invest in initiatives aimed at driving near-term revenue and strategic investments in next-generation battery technologies, particularly in scaling the dry electrode process and its application to 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 reliable battery packs through top-tier OEMs and a diverse retail customer base [6]. - Dragonfly Energy's patented dry electrode manufacturing process offers chemistry-agnostic power solutions for various applications, including energy storage systems, electric vehicles, and consumer electronics [6].