Dragonfly Energy receives covenant waiver from lenders, issues penny warrants for 1.29M shares

Dragonfly Energy Holdings Corp.

Lenders waived Senior Leverage Ratio and Fixed Charge Coverage Ratio tests for Q4 2023.
Issued penny warrants to purchase up to 1,286,671 shares at $0.01 per share as consideration.
Warrants are immediately exercisable and expire ten years from issuance.
Original signed warrant pages must be delivered to lenders by January 5, 2024.
Waiver is one-time; loan agreement otherwise remains in full force.

item 1.01 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Dragonfly Energy Holdings Corp. entered into Waiver with the lenders (effective 2023-12-29).

Action: entry
Agreement: credit facility
Counterparty: the lenders
Effective: 2023-12-29

Exact text from the filing

On December 29, 2023, Dragonfly Energy Holdings Corp. (the “ Company ”) received a waiver (the “ Waiver ”) from the lenders its Term Loan, Guarantee and Security Agreement (as amended, the “ Loan Agreement ”) in regards to its compliance with the Senior Leverage Ratio and Fixed Charge Coverage Ratio tests (the “ Tests ”) as of the last day of the quarter ending December 31, 2023.

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Source: SEC EDGAR

accession 0001493152-23-046623

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