Dragonfly Energy

Canaccord Genuity Acted as Sole Bookrunner to Dragonfly Energy Corp. on its $28.8 Million Registered Direct Offering

Canaccord  Genuity is pleased to announce that on October 8th, 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 23,000,000 shares of common stock, which includes the full exercise of the underwriters’ option to purchase an additional 3,000,000 shares of common stock, at a public offering price of $1.25 per share. This represents the second transaction in recent months Canaccord Genuity served in a sole bookrunner capacity on behalf of Dragonfly Energy. 

The total gross proceeds to Dragonfly Energy Corp. from this offering were $28.8 million.  Dragonfly Energy intends to use the net proceeds from the offering for working capital and other general corporate purposes, including the repayment of $4.0 million under its term loan agreement, 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 a number of 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.