Dragonfly Energy Soars 61.8% on Preferred Stock Elimination

On July 22, 2025, Dragonfly Energy's stock surged by 61.8% in pre-market trading, marking a significant rise in its share price.

Dragonfly Energy recently announced a strategic move to eliminate all outstanding shares of its Series A Convertible Preferred Stock. This decision involves issuing 2,100,000 shares of common stock in exchange for the surrender of the preferred stock, thereby removing associated common stock issuance obligations and dividend responsibilities. This action is aimed at enhancing the company's financial flexibility and reducing potential future dilution concerns.

The company's CEO, Dr. Denis Phares, highlighted that this settlement resolves the remaining outstanding shares of Series A Preferred Stock, improving the capital structure and allowing the company to focus on growth and profitability. The move is expected to position Dragonfly Energy better in the market, with a stronger emphasis on driving growth and achieving profitability.

Dragonfly Energy is a leading player in the energy storage and battery technology sector, known for its comprehensive lithium battery solutions. The company's patented dry electrode manufacturing process enables it to deliver power solutions for various applications, including energy storage systems, electric vehicles, and consumer electronics. The company's mission is to advance clean energy technologies through its proprietary, nonflammable, all-solid-state battery cells.