Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) saw its stock drop 13% on Thursday after announcing the pricing of a $55.4 million public offering of common stock and pre-funded warrants.
The company priced an underwritten public offering of 36 million shares of common stock at $1.35 per share, representing a steep discount to the previous day’s closing price of $1.97. Dragonfly Energy also issued pre-funded warrants for up to 5 million shares at $1.3499 per warrant, with an exercise price of $0.0001 per share.
Shares traded at $1.73 in pre-market activity following the announcement, as investors reacted to the potential dilution from the offering. Underwriters were also granted a 30-day option to purchase up to an additional 6.15 million shares at the offering price.
The company plans to use the net proceeds for working capital and general corporate purposes, including the prepayment of $45 million in outstanding debt under its term loan agreement. Funds will also support revenue growth initiatives and continued investment in next-generation battery technologies — including scaling its dry electrode process and advancing solid-state battery applications.
Canaccord Genuity is serving as sole bookrunner, with Roth Capital Partners acting as co-manager. The offering is expected to close on or about October 17, 2025, subject to customary closing conditions.
Dragonfly Energy Holdings Corp stock price
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