Dragonfly Energy slides after announcing another stock sale

Canaccord Genuity

16/10/2025 12:22

** Shares of lithium battery supplier Dragonfly Energy DFLI.O down 14.2% premarket to $1.69 as it looks to raise equity for the second time this month

    ** Reno, Nevada-based firm DFLI late Weds commenced offering of stock and pre-funded warrants

    ** It said it 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

    ** DFLI shares on Weds rose about 29% to $1.97 after co early in the day announced it was granted U.S. Patent strengthening its Dragonfly Intelligence battery communication technology

    **
    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))