---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-25-018691"
form_type: "8-K"
ticker: "DFLI"
cik: "0001847986"
company_name: "Dragonfly Energy Holdings Corp."
filed_at: "2025-10-20T23:59:59+00:00"
generated_at: "2026-05-17T03:17:11.197893+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-25-018691
- form_type: 8-K
- ticker: DFLI
- cik: 0001847986
- company_name: Dragonfly Energy Holdings Corp.
- filed_at: 2025-10-20T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1847986/000149315225018691/0001493152-25-018691-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1847986/000149315225018691/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-018691
- JSON: https://secwatch.observer/filing/0001493152-25-018691.json
- Plain text: https://secwatch.observer/filing/0001493152-25-018691.txt

## Key facts
- Equity Issuances
  Dragonfly Energy Holdings Corp. issued $25 million of shares of newly created Series B preferred stock of preferred stock to the Lenders for in exchange for $25 million outstanding principal amount of the loan.
  - Security: preferred stock
  - Shares: $25 million of shares of newly created Series B preferred stock
  - Purchaser: the Lenders
  - Consideration: in exchange for $25 million outstanding principal amount of the loan
  source text: the Company has agreed to issue $25 million of shares of newly created Series B preferred stock of the Company (the “Preferred Stock”) in exchange for $25 million outstanding principal amount of the loan, which Preferred Stock will be issued following the filing of a certificate of designation for the Preferred Stock with the Secretary of State of the State of Nevada
  evidence_url: https://www.sec.gov/Archives/edgar/data/1847986/000149315225018691/0001493152-25-018691-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.