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Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) announced Monday it has received an exception from the Nasdaq Hearings Panel, granting the company until November 10, 2025, to regain compliance with the exchange’s continued listing requirements. The notice, received July 2, follows the company’s submission of a compliance plan and a hearing with the panel on June 24.
According to the press release statement, Dragonfly Energy must meet specific milestones to maintain its listing on the Nasdaq Capital Market. These include the conversion of the company’s remaining outstanding preferred stock into common stock by July 18, 2025, and the restructuring or conversion of a portion of its outstanding debt by mid-August 2025. The company is required to meet both the $1.00 minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) and a minimum market value of listed securities (MVLS) of $35 million under Nasdaq Listing Rule 5550(b)(2).
The company previously disclosed that it received a notice from Nasdaq’s Listing Qualifications Staff on May 14, 2025, regarding non-compliance with the minimum bid price requirement, which could result in delisting. An additional letter on June 11, 2025, cited non-compliance with the MVLS requirement as another basis for potential delisting. As of this report, Dragonfly Energy does not meet alternative Nasdaq continued listing standards related to stockholders’ equity or net income.
The notice has no immediate effect on the listing of Dragonfly Energy’s common stock or redeemable warrants, which will continue to trade on the Nasdaq Capital Market under the symbols DFLI and DFLIW, respectively, while the company works toward compliance.
The information in this article is based on a press release statement and a filing with the Securities and Exchange Commission.
In other recent news, Dragonfly Energy Holdings Corp. reported a 6.8% increase in revenue for the first quarter of 2025, reaching $13.4 million. Despite this growth, the company faced a net loss of $6.8 million, equivalent to $0.93 per diluted share. The company also announced the cancellation of warrants for Series A Preferred Stock, which had an exercise price of $10,000 per share. Additionally, Dragonfly Energy received a notice from Nasdaq about non-compliance with the minimum Market Value of Listed Securities requirement, risking potential delisting. The company has requested a hearing with the Nasdaq Hearings Panel to address these compliance issues. In boardroom news, Rick Parod resigned from the Dragonfly Energy Board of Directors, effective May 31, 2025. The company has yet to announce a replacement for the vacant board position. These developments were detailed in recent filings with the Securities and Exchange Commission.
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