secwatch.observer — SEC 8-K summary
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Issuer:     Dragonfly Energy Holdings Corp. (DFLI)
CIK:        0001847986
Form:       8-K
Filed at:   2024-10-07T23:59:59+00:00
Accession:  0001493152-24-040278
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1847986/000149315224040278/0001493152-24-040278-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1847986/000149315224040278/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-040278

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