secwatch.observer — SEC 8-K summary
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Issuer:     Dragonfly Energy Holdings Corp. (DFLI)
CIK:        0001847986
Form:       8-K
Filed at:   2025-01-03T23:59:59+00:00
Accession:  0001493152-25-000307
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Dragonfly avoids Q4 default via loan amendment; grants 350K penny warrants at $0.01
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- Waived Senior Leverage and Fixed Charge Coverage tests for Q4 2024, preventing default.
- Issued penny warrants for 350,000 shares at $0.01/share to lenders as consideration.
- Must seek shareholder OK for up to 1,400,000 more shares underlying additional warrants.
- Jan 1, 2025 interest payment entirely payable in-kind (PIK).
- Minimum liquidity reduced to $3.5M for Dec 31, 2024; rises to $10M from Jan 31, 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1847986/000149315225000307/0001493152-25-000307-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1847986/000149315225000307/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-000307

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer