Dragonfly Energy Announces Pricing of $25.0 Million Underwritten Offering of Common Stock

RENO, Nev., Oct. 06, 2025 (GLOBE NEWSWIRE) -- Dragonfly Energy Holdings Corp. (“Dragonfly Energy” or the “Company”) (Nasdaq: DFLI), an industry leader in energy storage and battery technology, today announced the pricing of an underwritten offering of 20,000,000 shares of common stock at a price to the public of $1.25 per share, for gross proceeds of approximately $25.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses. All shares of common stock are being offered by Dragonfly Energy. In addition, Dragonfly Energy has granted the underwriters a 30-day option to purchase up to an additional 3,000,000 shares of its common stock at the public offering price for the common stock, less underwriting discounts and commissions. The offering is expected to close on or about October 7, 2025, subject to the satisfaction of customary closing conditions.

Canaccord Genuity is acting as the sole bookrunner for the offering. Roth Capital Partners is acting as co-manager 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 $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.

The offering is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-275559) that was declared effective by the Securities and Exchange Commission (“SEC”) on November 24, 2023. A preliminary prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC and a final prospectus supplement with the final terms of the offering will be filed with the SEC and will be available for free on the SEC’s website, located at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained, when available, from Canaccord Genuity LLC, Attention: Syndication Department, One Post Office Square, Suite 3000, Boston, Massachusetts 02109, or by telephone at [phone], or by email at [e-mail].