Why Dragonfly Energy Shares Are Plunging Today
Portfolio Pulse from Shivani Kumaresan
Dragonfly Energy Holdings Corp (NASDAQ:DFLI) has priced its underwritten public offering of 10 million shares and investor warrants at $2.00 each, expecting to raise approximately $20 million. The proceeds will be used for working capital and general corporate purposes. DFLI shares are trading lower by 47.7% at $1.46.
June 20, 2023 | 3:35 pm
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Dragonfly Energy's public offering of 10 million shares and investor warrants at $2.00 each is expected to raise $20 million. DFLI shares are trading lower by 47.7% at $1.46.
The pricing of the public offering at $2.00 per share is lower than the current trading price, which has led to a sharp decline in the stock price. This dilution of shares and the potential for additional shares to be issued with the underwriters' option may continue to put downward pressure on the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100