Dragonfly Energy gets term loan covenant waiver, defers Series B dividend; $450,000 fee added to principal

Dragonfly Energy Holdings Corp.

Lenders waived testing of the minimum liquidity covenant for fiscal month ending September 30, 2026, and waived default from deferring Series B cash dividend due October 1, 2026.
Company will pay Lenders a $450,000 amendment fee paid-in-kind by adding it to the Term Loan principal balance.
Series B holders (100% of outstanding) waived full cash dividend for quarter ending Sept 30; 2% paid by Oct 1, 2026, 6% by Oct 30, 2026; PIK dividends accrue at 2%.
Series B Preferred carries a 10% annual dividend rate, normally payable 8% cash and 2% PIK, per Nov 4, 2025 Certificate of Designation.
Term Loan Agreement dated Oct 7, 2022, as amended; subsidiary Dragonfly Energy Corp. is borrower, Holdings and Battle Born are guarantors.

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