Dragonfly Energy

Canaccord Genuity Acted as Sole Bookrunner to Dragonfly Energy Corp. on its $55.4 Million Public Offering – Completed Three Offerings since July 2025 which Raised over $90 Million

Canaccord Genuity is pleased to announce that on October 17th, 2025, its client, Dragonfly Energy Holdings Corp. (“Dragonfly Energy” or the “Company”) (Nasdaq: DFLI), an industry leader in energy storage and battery technology, announced the closing of an underwritten offering of 36,000,000 shares of common stock, at a public offering price of $1.35 per share and, in lieu of common stock to investors who so choose, pre-funded warrants to purchase up to 5,000,000 shares of common stock at a price to the public of $1.3499 per pre-funded warrant, which represents the per share public offering price for the shares of common stock less the $0.0001 per share exercise price for each pre-funded warrant. This represents the third transaction in recent months Canaccord Genuity served as sole bookrunner capacity on behalf of Dragonfly Energy raising over $90 million in cumulative proceeds. 

The total gross proceeds to Dragonfly Energy Corp. from this offering were $55.4 million. Dragonfly Energy intends to use the net proceeds from the proposed offering for working capital and other general corporate purposes, including the prepayment of $45 million of outstanding indebtedness under its term loan agreement in connection with a proposed restructuring of the Company’s outstanding indebtedness, continued investments in initiatives intended to drive near term revenue, and continued strategic investment in next generation battery technologies, including scaling the dry electrode process and its application to solid-state batteries.

Dragonfly Energy (Nasdaq: DFLI) is a manufacturer of non-toxic deep cycle lithium-ion batteries that are designed to displace lead acid batteries in several different storage applications and end markets, including recreational vehicle (“RV”), marine vessel, and solar, oil and gas and off-grid industries, with disruptive solid-state cell technology currently under development. Its “Battle Born” and “Dragonfly” brands serve both consumers and OEMs, complemented by battery system accessories. The company has also developed proprietary dry-electrode manufacturing technology and is advancing solid-state battery solutions that offer improved safety, superior cyclability, efficiency, and scalability.