Dragonfly Energy Raises $55.4M in Public Offering of Common Stock

Dragonfly Energy Holdings Corp. has priced a public offering of 36 million shares of common stock at $1.35 per share and 5 million pre-funded warrants at $1.3499 per warrant. The offering raises approximately $55.4 million, with an additional 6.15 million shares available through a 30-day option, according to a Dragonfly Energy press release.

Dragonfly Energy Holdings Corp. (DFLI), a leader in energy storage and battery technology, has priced an underwritten public offering of 36 million shares of common stock at $1.35 per share. Additionally, the company is offering 5 million pre-funded warrants at $1.3499 per warrant. The offering is expected to raise approximately $55.4 million, with an additional 6.15 million shares available through a 30-day option.

The proceeds from the offering will be used for various purposes, including the prepayment of $45 million of outstanding indebtedness, continued investments in initiatives to drive near-term revenue, and strategic investments in next-generation battery technologies. The offering is being made pursuant to a shelf registration statement on Form S-3, which was declared effective by the Securities and Exchange Commission (SEC) on November 24, 2023, the press release notes.

Canaccord Genuity is acting as the sole bookrunner for the offering, with Roth Capital Partners serving as co-manager. The offering is expected to close on or about October 17, 2025, subject to customary closing conditions, the release adds.

Dragonfly Energy Holdings Corp. specializes in cell manufacturing, battery pack assembly, and full system integration. Through its Battle Born Batteries® brand, the company has established itself as a leader in the lithium battery industry. The company's proprietary dry electrode manufacturing process can deliver chemistry-agnostic power solutions for various applications, including energy storage systems, electric vehicles, and consumer electronics, according to the press release.

The press release also contains forward-looking statements, which are subject to risks and uncertainties, including market conditions, the proposed restructuring of the company's outstanding indebtedness, and the satisfaction of customary closing conditions related to the offering.