other material
confidence high
sentiment positive
materiality 0.55
Dragonfly subsidiary grants Stryten exclusive license to Battle Born brand; receives $5M initial fee
Dragonfly Energy Holdings Corp.
- Battle Born LLC grants Stryten exclusive worldwide license to use Battle Born Batteries trademarks for B2B sales in automotive, marine, powersports, lawn/garden, golf cart, military markets.
- Stryten pays $5M initial licensing fee plus mid-single-digit royalties on net sales; royalties capped at $25M total, then nominal annual fee.
- Lenders under existing term loan agreement consent to the license deal and waive mandatory prepayment of $5M fee; Battle Born becomes guarantor.
- License is perpetual unless terminated for uncured breach or if cumulative royalties <$15M after 5 years; includes customary provisions.