WASHINGTON (dpa-AFX) - Dragonfly Energy Holdings Corp. (DFLI), an energy storage and battery technology company, Thursday announced pricing of public offering of 36 million shares at $1.35 per share.
The company expects to receive net proceeds of $55.4 million from the offering which it intends to use for the prepayment of $45 million indebtedness, continued investments to drive revenue, and for investment initiatives for its future technologies.
Dragonfly has granted its sole underwriter, Canaccord Genuity, a 30-day option to purchase up to an additional 6.15 million shares of its common stock at the public offering price.
The offering is expected to close on or about October 17.
As of this writing, the shares were trading $1.43 or 0.54 cents lower at 27.59 percent.
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