Mergers & Acquisitions ·
Dragonfly Energy Holdings Corp. acquired substantially all operating assets of the Dakota Lithium brand from Clean…
DFLIDragonfly Energy Holdings Corp.
Dragonfly Energy Holdings Corp. acquired substantially all operating assets of the Dakota Lithium brand from Clean Liquidation, LLC for $4 million, consisting of $1 million in cash and 1,500,000 shares valued at $2 per share. The transaction expands the company's presence in marine, powersports, and golf cart battery markets, with Dakota Lithium generating approximately $12 million in net revenue in 2025. Concurrently, lenders amended the senior secured term loan to increase the interest rate to 14% payable-in-kind through December 31, 2026, extend covenant testing dates to September 30, 2027, and adjust liquidity requirements. The company expects the acquisition to be accretive to Adjusted EBITDA starting in Q4 2026. Dragonfly Energy Holdings Corp. operates in the lithium battery technology industry, developing energy storage solutions for mobile, off-grid, industrial, and specialty applications.