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Investing.com -- Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) stock fell 13% after the energy storage and battery technology company announced the pricing of a $55.4 million public offering of common stock and pre-funded warrants.
The company priced an underwritten public offering of 36 million shares of common stock at $1.35 per share, a significant discount to yesterday’s closing price of $1.97. Dragonfly Energy also offered pre-funded warrants to purchase up to 5 million shares at $1.3499 per warrant, with an exercise price of $0.0001 per share.
Shares traded at $1.73 in pre-market trading following the announcement, reflecting investor concerns about the dilutive effect of the offering. The company has also granted underwriters a 30-day option to purchase up to an additional 6.15 million shares at the public offering price.
Dragonfly Energy plans to use the net proceeds for working capital and general corporate purposes, including prepaying $45 million of outstanding debt under its term loan agreement. The company also intends to invest in initiatives to drive near-term revenue and continue strategic investment in next-generation battery technologies, including scaling its dry electrode process and its application to solid-state batteries.
Canaccord Genuity is acting as the sole bookrunner for the offering, with Roth Capital Partners serving as co-manager. The offering is expected to close on or about October 17, 2025, subject to customary closing conditions.
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