Dragonfly Energy Announces $55.4 Million Public Offering and Debt Restructuring.

Dragonfly Energy Holdings Corp. has priced a $55.4 million 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 pre-funded warrant. The company plans to use the net proceeds for working capital, debt repayment, investments in initiatives to drive revenue, and strategic investments in next-generation battery technologies. The offering is expected to close on October 17, 2025.

Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) has priced a public offering totaling approximately $55.4 million in gross proceeds on October 16, 2025. The offering includes 36,000,000 common shares at $1.35 per share and up to 5,000,000 pre-funded warrants at $1.3499 each. Underwriters have a 30-day option for an additional 6,150,000 shares. The offering is expected to close on or about October 17, 2025, subject to closing conditions, according to a company press release.

The net proceeds from the offering will fund working capital, prepayment of $45 million of term loan indebtedness, near-term revenue initiatives, and scaling of dry electrode and solid-state battery investments. The company aims to use the funds for debt repayment, strategic investments in next-generation battery technologies, and initiatives to drive near-term revenue.

The offering's impact on shareholders includes a potential increase in share count and near-term dilution due to the sizable share issuance. The per-share price and the underwriter option's exercise within 30 days will determine the final net proceeds and dilution magnitude. Investors should closely monitor the closing confirmation and the final prospectus for detailed information on underwriting fees and net proceeds.

Dragonfly Energy is a comprehensive lithium battery technology company specializing in cell manufacturing, battery pack assembly, and full system integration. The company's Battle Born Batteries® brand has established itself as a leader in the lithium battery industry, with a focus on nonflammable, all-solid-state battery cells.

The offering is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-275559) that was declared effective by the Securities and Exchange Commission (SEC) on November 24, 2023. A preliminary prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and will be available for free on the SEC’s website.

Investors should refer to the final prospectus supplement for detailed information on the offering and the company's plans for the net proceeds. Forward-looking statements in this press release are subject to risks and uncertainties, including market conditions and the satisfaction of customary closing conditions related to the offering.