AcquisitionsJul 31, 2026, 07:31 AM
Dragonfly Energy Acquires Dakota Lithium for $4M
AI Summary
Dragonfly Energy Holdings Corp. has completed the acquisition of substantially all operating assets of the Dakota Lithium brand for $4.0 million, comprising $1.0 million in cash and $3.0 million in common stock. This acquisition expands Dragonfly Energy's reach across various specialty battery markets and is expected to contribute meaningful revenue and be accretive to Adjusted EBITDA in the fourth quarter of 2026. Concurrent lender amendments provide additional financial flexibility by preserving approximately $1 million in near-term liquidity.
Key Highlights
- Dragonfly Energy acquired substantially all operating assets of Dakota Lithium brand.
- Total purchase price was $4.0 million, consisting of $1.0 million in cash and $3.0 million in common stock.
- Equity consideration valued at $2.00 per share, totaling 1,500,000 shares, subject to a 12-month lock-up.
- Dakota Lithium generated approximately $12 million in net revenue in 2025 despite constraints.
- Acquisition expected to be accretive to Adjusted EBITDA in the fourth quarter of 2026.
- Lenders amended debt terms, reducing minimum cash covenant and allowing interest to be paid in kind for two quarters.
- Lender amendments are expected to preserve approximately $1 million of near-term liquidity.
Price Impact
More from DFLI