Dragonfly Energy Holdings Corp. announced the pricing of an underwritten public offering of 21,980,000 shares of common stock at a price to the public of $0.25 per share, for gross proceeds of approximately $5.5 million, before deducting underwriting discounts and commissions and other estimated offering expenses. All shares of common stock are being offered by Dragonfly Energy. The offering is expected to close on or about July 31, subject to the satisfaction of customary closing conditions.
Canaccord Genuity is acting as the sole bookrunner for the offering.
Dragonfly Energy intends to use the net proceeds from the offering for working capital and other general corporate purposes, including the repayment of its indebtedness in the ordinary course.
Dragonfly Energy also announced it has secured U.S. Patent No. 12,341,149 by the United States Patent and Trademark Office for nonflammable, all-solid-state battery technology — forwarding the company’s mission to manufacture nonflammable batteries in the United States. This breakthrough enables safer, high-performance lithium batteries with wide-ranging applications in energy storage and mobility, the company said.
Other key aspects include:
- The patented design is compatible with lithium iron phosphate (LiFePO4) battery chemistry and supports simplified manufacturing via the company’s patented dry electrode processing.
- This patent expands Dragonfly Energy’s portfolio, totaling over 55 issued and pending patents.
- The newly patented technology integrates solid electrolyte materials and proprietary separator designs to form a highly stable electrochemical cell that resists thermal runaway, even under extreme conditions.
- This innovation directly addresses safety concerns associated with conventional lithium-ion batteries and opens the door for commercial-scale production of nonflammable lithium batteries suitable for stationary storage, transportation and defense applications.
