Dragonfly Power Holdings Corp (NASDAQ:DFLI) shares are dipping on Monday. The corporate introduced that it priced its underwritten public providing of 20 million shares of frequent inventory at $1.25 per share.
The providing would generate roughly $25 million in gross proceeds, earlier than deducting charges and bills.
The underwriters even have a 30-day choice to buy as much as an extra 3 million shares on the similar value, excluding underwriting reductions and commissions.
The providing is predicted to shut round October 7, 2025, pending customary closing situations.
Dragonfly stated it plans to make use of the proceeds to assist working capital and normal company functions, together with repaying $4 million beneath its time period mortgage.
It additionally goals to make the most of the capital for funding initiatives that generate near-term income and advance next-generation battery applied sciences, notably by scaling its dry electrode course of and making use of it to solid-state battery improvement.
The corporate’s shares have retraced from final week’s 100% bounce following the announcement of its choice by Nevada Tech Hub for first-round funding.
The award, anticipated to be roughly $300,000, can be used to modernize the corporate’s manufacturing techniques, improve its Battle Born Batteries manufacturing traces, and work towards attaining ISO 9001 certification.
It has been a wild month, with the Dragonfly inventory skyrocketing 423.1%. Nevertheless, trying on the entire 12 months, it is nonetheless down 55.2%, regardless of a 117.6% enhance within the final six months, in accordance with Benzinga Professional knowledge.
DFLI Worth Motion: Dragonfly Power Hldgs shares have been down 23.21% at $1.45 on the time of publication on Monday.
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Photograph Courtesy ibragimova by way of Shutterstock
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