Dragonfly Energy obtains waiver of Q2 2024 financial covenants, issues penny warrants for 2.1M shares

Dragonfly Energy Holdings Corp.

Waived Senior Leverage Ratio and Fixed Charge Coverage Ratio tests for quarter ending June 30, 2024.
Issued penny warrants for 2,100,000 shares at $0.01 per share, immediately exercisable for 10 years.
Liquidity requirement lowered to $3.5M as of June 30, 2024, then $10.0M monthly from July 31, 2024 onward.
Interest on July 1, 2024 payment date to be paid-in-kind; cash interest resumes after October 1, 2024.

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