Dragonfly Energy Holdings Corp. Files 8-K

TL;DR

DFLI filed an 8-K on 9/30/24 for material agreements and financials.

AI Summary

Dragonfly Energy Holdings Corp. filed an 8-K on October 7, 2024, reporting a material definitive agreement and financial statements as of September 30, 2024. The company, formerly Chardan NexTech Acquisition Corp., is incorporated in Nevada and operates in the miscellaneous electrical machinery sector.

Why It Matters

This filing provides an update on Dragonfly Energy's material agreements and financial status, which is crucial for investors to assess the company's current operational and financial health.

Risk Assessment

Risk Level: low — This is a routine filing reporting on material agreements and financial statements, not indicating immediate operational or financial distress.

Key Players & Entities

• Dragonfly Energy Holdings Corp. (company) — Registrant
• Chardan NexTech Acquisition Corp. (company) — Former company name
• 001-40730 (company) — SEC File Number
• 851873463 (company) — IRS Number
• Nevada (company) — State of Incorporation
• September 30, 2024 (date) — Report Date
• October 7, 2024 (date) — Filing Date

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share DFLI The Nasdaq Capital M
• $11.50 — or common stock at an exercise price of $11.50 per share, subject to adjustment DFLI
• $0.01 — rant Shares "), at an exercise price of $0.01 per share, in connection with the lende
• $7.0 million — uirement under the Loan Agreement to be $7.0 million as of the last day of the fiscal month

Filing Documents

• form8-k.htm (8-K) — 45KB
• ex4-1.htm (EX-4.1) — 169KB
• ex10-1.htm (EX-10.1) — 62KB
• 0001493152-24-040278.txt ( ) — 536KB
• dfli-20240930.xsd (EX-101.SCH) — 4KB
• dfli-20240930_def.xml (EX-101.DEF) — 29KB
• dfli-20240930_lab.xml (EX-101.LAB) — 36KB
• dfli-20240930_pre.xml (EX-101.PRE) — 27KB
• form8-k_htm.xml (XML) — 6KB

01. Entry Into a Material Definitive Agreement

Item 1.01. Entry Into a Material Definitive Agreement. On September 30, 2024, Dragonfly Energy Holdings Corp. (the " Company ") entered into a limited waiver and third amendment (the " Amendment ") to its Term Loan, Guarantee and Security Agreement (as amended, the " Loan Agreement ") with the lenders in regards to its compliance with the Senior Leverage Ratio and Fixed Charge Coverage Ratio tests (the " Tests ") as of the last day of the quarter ended September 30, 2024 and certain amendments to the Loan Agreement. The Amendment provided for a one-time issuance of penny warrants (the " Penny Warrants ") to purchase up to 3,000,000 shares of the Company's common stock, par value $0.0001 per share (the " Penny Warrant Shares "), at an exercise price of $0.01 per share, in connection with the lenders' agreement to waive the Tests under the Loan Agreement for the quarter ended September 30, 2024 and to amend the Loan Agreement. The Penny Warrants are immediately exercisable upon issuance and will expire ten years from the date of issuance. In addition, the Amendment (i) reduced the liquidity requirement under the Loan Agreement to be $7.0 million as of the last day of the fiscal month ended September 30, 2024 and (ii) provided for the interest to be paid on the Payment Date (as defined in the Loan Agreement) occurring on October 1, 2024 to be payable partly in cash and the remainder payable-in-kind as set forth in the Amendment. The Penny Warrant and the Penny Warrant Shares have not been registered under the Securities Act of 1933, as amended (the " Securities Act "), and are instead being offered pursuant to the exemption provided in Section 4(a)(2) under the Securities Act. The foregoing summary and description of the provisions of the Amendment and the Penny Warrants does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment and form of Penny Warrant, copies of which are filed as Exhibits 4.1 and 10.1, resp

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 4.1 Form of Penny Warrant. 10.1 Limited Waiver and First Amendment to Term Loan, Guarantee and Security Agreement, dated as of September 30, 2024, by and among Dragonfly Energy Holdings Corp., Dragonfly Energy Corp., the lenders from time to time party thereto and Alter Domus (US) LLC. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). Signature Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DRAGONFLY ENERGY HOLDINGS CORP. Dated: October 7, 2024 By: /s/ Denis Phares Name: Denis Phares Title: Chief Executive Officer, Interim Chief Financial Officer and President

View Full Filing

View this 8-K filing on SEC EDGAR