On October 10, 2025, Dragonfly Energy Holdings Corp. announced the closing of an underwritten offering of 23 million shares of common stock, plus the full exercise of the underwriters’ option to purchase an additional 3 million shares, at a public offering price of $1.25 per share. The gross proceeds to the company, before underwriting discounts and commissions, were approximately $28.75 million, marking the largest equity raise for DFLI to date.
The company stated that the net proceeds will be used for working capital and other general corporate purposes, including the repayment of $4 million under its term loan agreement, 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. This allocation aligns with DFLI’s corporate optimization program and supports its expansion into high‑margin markets.
By securing this capital infusion, Dragonfly Energy strengthens its liquidity position, reduces debt servicing costs, and provides the financial flexibility needed to accelerate product development and market penetration. The transaction underscores the company’s ongoing efforts to improve its balance sheet and fund growth initiatives, making it a material event for investors.
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