other material
confidence high
sentiment negative
materiality 0.60
Dragonfly Energy raises ~$3.2M via preferred stock and warrants in registered direct and private placement
Dragonfly Energy Holdings Corp.
- Sold 180 shares Series A Preferred at $10,000/share in registered direct; conversion price $2.332, floor $1.00.
- Private placement added 170 Series A shares at same price plus warrants for 4,000 Series A shares; floor $0.424.
- Net proceeds ~$3.2M after fees and expenses; funds for working capital and general corporate purposes.
- Company to seek stockholder approval within 60 days to increase authorized common from 250M to 400M shares.
- Private Placement Warrants exercisable for 200 Series A shares each, term up to 33 months post-registration effectiveness.