Dragonfly Energy converts $25M term loan into Series B Preferred Stock

Dragonfly Energy Holdings Corp.

Issued $25M Series B Preferred (stated value $1,000/share) in exchange for $25M principal of Term Loan.
Preferred convertible at $3.15/share, yielding up to ~7.94M common shares; subject to 4.99% ownership cap.
10% annual dividend, payable quarterly: 80% cash, 20% paid-in-kind; ranks senior to all other stock.
Company may redeem at Optional Redemption Price; mandatory 50% of future equity offering net proceeds toward redemption.
Holders can force redemption if not redeemed by Oct 7, 2027 or upon non-payment event.

Key facts

Extracted from this filing and checked against the source text.

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

Dragonfly Energy Holdings Corp. issued $25 million of shares of preferred stock to Lenders for $25 million outstanding principal amount of the Term Loan.

Security: preferred stock
Shares: $25 million of shares
Purchaser: Lenders
Consideration: $25 million outstanding principal amount of the Term Loan

Exact text from the filing

on November 4, 2025, the Company and the Lenders entered into an exchange agreement (the “Exchange Agreement”) pursuant to which the Company issued $25 million of shares of newly created Series B Convertible Preferred Stock of the Company (the “Series B Preferred Stock”) in exchange for $25 million outstanding principal amount of the Term Loan.

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Dragonfly Energy Holdings Corp. filing history →

Source: SEC EDGAR

accession 0001493152-25-020907

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