Dragonfly Energy restructures term loan: $45M prepaid, $25M exchanged for Series B preferred, $5M forgiven

Dragonfly Energy Holdings Corp.

Repaid $45M of term loan from Oct 17 equity offering; issued $25M of 8% cash + 2% PIK Series B preferred convertible at $3.15/share.
Lenders forgave $5M of principal; remaining $17M bears 12% fixed interest, matures Oct 2027.
Paid $0.9M fee ($450k cash + $450k added to principal); certain covenants waived through Dec 2026.
New monthly minimum liquidity covenant of $5.0M; lenders cannot convert preferred for 6 months.
If not redeemed by Oct 2027, holders can require redemption; 25% of net future equity proceeds used to redeem preferred.

item 1.01item 3.02item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.