Dragonfly Energy going public

[BroncoHauler]

Received this by email today.
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Dragonfly Energy, a Leading Energy Storage Company, to Publicly List on Nasdaq through Business Combination with Chardan NexTech Acquisition 2 Corp.

• Dragonfly has entered into a definitive business combination agreement with Chardan NexTech Acquisition 2 Corp. (Nasdaq: CNTQ); upon closing, the combined company will be listed on the Nasdaq under the new ticker DFLI.
  
  
• Dragonfly has a track record of top line growth and has produced 17 quarters of profitability. 2021 revenue and adjusted EBITDA were $78 million and $8.7 million, respectively, both representing an 80+% CAGR since 2018.
  
  
• Pro forma enterprise value of the combined company is expected to be approximately $500 million. All Dragonfly shareholders will roll 100% of their equity holdings into the new combined company.
  
  
• Funding to support the business combination includes $128 million cash from trust (assuming no redemptions), a $75 million senior secured term loan for which Energy Impact Partners is lead arranger and a $5 million equity investment from CNTQ's Sponsor. The transaction is further supported by a $150 million Chardan Equity Facility (ChEFTM).
  
  
• Dragonfly intends to use the proceeds from the transaction to accelerate the market penetration of its existing business and commercialize its proprietary and patented All-Solid-State-Battery technology that will dramatically reduce reliance on the power grid.

https://dragonflyenergy.com/investors/

[ScrapIron]

Broncohauler, do you know what app a person can use to buy and sell stocks with having to pay transaction fees and other charges to a broker? Like say i wanted 50 shares of CNTQ but didnt want to pay a broker to arrange that purchase, or i wanted to sell those shares and not pay a brokerage firm for selling them?

[SteelheadJones]

Pretty sure Robinhood will let you do that.

[maxswasser]

This forum was not where I was expecting to get my energy news. Broncohauler, are you affiliated? I'm very surprised to see a SPAC go through after the last couple of years.

[BroncoHauler]

Originally Posted by maxswasser

This forum was not where I was expecting to get my energy news. Broncohauler, are you affiliated? I'm very surprised to see a SPAC go through after the last couple of years.

No affiliation. I posted this info (in the Campfire section) because a number of people use Dragonfly lithium batteries in their RVs, therefore of potential interest to this community, as this may impact, positively or negatively, the availability of those batteries.

[nyyankees588]

Does this mean Battleborn is going public? Are they one in the same? I was under the impression dragonfly was the OEM version of Battleborn.