Dragonfly Energy Holdings Corp. (NASDAQ: DFLI) announced today that it has commenced an underwritten public offering of its common stock and, for investors who choose, pre‑funded warrants to purchase shares of its common stock. The offering is being managed by Canaccord Genuity, which is acting as the sole bookrunner and has been granted a 30‑day option to purchase up to an additional 15% of the securities at the public offering price.
The proposed offering is being made pursuant to a shelf registration statement on Form S‑3 (File No. 333‑275559) that was declared effective by the SEC on November 24, 2023. The offering is subject to market and other conditions, and there is no assurance that it will be completed or that the offering will be of a particular size or terms.
The company stated that the net proceeds will be used for working capital and other general corporate purposes, including the prepayment of $45 million of outstanding indebtedness under its term loan agreement. Proceeds will also fund continued investments in initiatives intended to drive near‑term revenue and strategic investment in next‑generation battery technologies, such as scaling the dry‑electrode process and its application to solid‑state batteries.
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