Dragonfly Energy secures waiver of Q3 2024 financial covenants, issues penny warrants for 3M shares

Dragonfly Energy Holdings Corp.

Lenders waived Senior Leverage Ratio and Fixed Charge Coverage Ratio tests for Q3 2024.
Issued penny warrants for up to 3M shares at $0.01 per share, immediately exercisable for 10 years.
Liquidity requirement reduced to $7.0M as of Sep 30, 2024, then $10M monthly from July 31, 2024.
Interest on Oct 1, 2024 payment: $1.5M in cash, remainder payable-in-kind (PIK).
Warrants issued under Section 4(a)(2) exemption; not registered under Securities Act.

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