Dragonfly Energy Stock Falls After 100% Move
Dragonfly Energy Holdings Corp (NASDAQ:DFLI) shares are dipping on Monday. The company announced that it priced its underwritten public offering of 20 million shares of common stock at $1.25 per share.
The offering would generate approximately $25 million in gross proceeds, before deducting fees and expenses.
The underwriters also have a 30-day option to purchase up to an additional 3 million shares at the same price, excluding underwriting discounts and commissions.
The offering is expected to close around October 7, 2025, pending customary closing conditions.
How Will The Money Be Used?
Dragonfly said it plans to use the proceeds to support working capital and general corporate purposes, including repaying $4 million under its term loan.
It also aims to utilize the capital for funding initiatives that generate near-term revenue and advance next-generation battery technologies, particularly by scaling its dry electrode process and applying it to solid-state battery development.
Stock Growth
The company's shares have retraced from last week's 100% jump following the announcement of its selection by Nevada Tech Hub for first-round funding.
The award, expected to be approximately $300,000, will be used to modernize the company's production systems, upgrade its Battle Born Batteries manufacturing lines, and work toward achieving ISO 9001 certification.
It's been a wild month, with the Dragonfly stock skyrocketing 423.1%. However, looking at the whole year, it's still down 55.2%, despite a 117.6% increase in the last six months, according to Benzinga Pro data.
DFLI Price Action: Dragonfly Energy Hldgs shares were down 23.21% at $1.45 at the time of publication on Monday.
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