secwatch.observer — SEC 8-K summary
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Issuer:     Dragonfly Energy Holdings Corp. (DFLI)
CIK:        0001847986
Form:       8-K
Filed at:   2025-10-20T23:59:59+00:00
Accession:  0001493152-25-018691
Event type: debt
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1847986/000149315225018691/0001493152-25-018691-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1847986/000149315225018691/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-018691

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