Dragonfly Energy's second equity offering this month dents stock

Canaccord Genuity

16/10/2025 13:26

Updates with pricing details, recasts

    ** Shares of lithium battery supplier Dragonfly Energy DFLI.O down 21.8% at $1.54 premarket after co raises equity for the second time this month

    ** Reno, Nevada-based firm DFLI early Thurs sells 41 mln shares, including 5 mln
    pre-funded warrants, at $1.35 for $55.4 mln gross proceeds

    ** Offering priced at 31.5% discount to stock's last close of $1.97

      ** DFLI shares on Weds rose about 29% after co early in the day announced it was granted U.S. Patent strengthening its Dragonfly Intelligence battery communication technology

    ** Co intends to use net offering proceeds for working capital and general purposes, including prepayment of $45 mln of debt under term loan in connection with proposed debt restructuring

    ** DFLI also plans to continue investing in
    next-gen battery technologies, including scaling the dry electrode process and its application to solid-state batteries

    ** Canaccord Genuity sole bookrunner for offering

    **
    On Oct 6, co announced pricing $25 mln stock offering at $1.25

    ** DFLI has ~84.8 mln shares outstanding as of Oct 15, per the prospectus

** Shares ended Sept at 59 cents

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))