Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) stock plunged 30% Monday after the energy storage and battery technology company announced the pricing of an underwritten public offering.
The Nevada-based company priced an offering of 20 million shares of common stock at $1.25 per share, representing a significant discount to Friday’s closing price of $1.89. The offering is expected to raise approximately $25 million in gross proceeds before deducting underwriting discounts, commissions, and other expenses.
Dragonfly Energy has also granted the underwriters a 30-day option to purchase up to an additional 3 million shares at the public offering price, less underwriting discounts and commissions.
The substantial discount in the offering price compared to the previous market value appears to be driving the sharp decline in the company’s stock. Share dilution concerns are likely weighing on investor sentiment as the offering will significantly increase the company’s outstanding share count.
The transaction is expected to close on or about October 7, 2025, subject to customary closing conditions.
Dragonfly Energy, which trades on the Nasdaq under the ticker DFLI, specializes in energy storage solutions and battery technology. The company has positioned itself as an industry leader in these sectors, though today’s share price reaction suggests investors are concerned about the dilutive effects of the capital raise.
