Chardan Announces Launch of ChEF (Chardan Equity Facility)

Rhea-AI Summary

Chardan, a global investment bank, has launched its Chardan Equity Facility (ChEF), a new financing solution for public companies. The ChEF allows firms to raise equity periodically, bypassing traditional follow-on offerings. Senti Biosciences (SNTI) has secured a $50 million ChEF, while Dragonfly Energy (CNTQ) has announced a $150 million agreement. Chardan has raised over $30 billion for companies since its inception, including $10 billion for healthcare sectors, positioning itself as a vital partner for capital access in a challenging market.

Positive

• Launch of Chardan Equity Facility (ChEF) provides innovative financing solutions.
• Senti Biosciences secures $50 million, enhancing capital for operations.
• Dragonfly Energy announces $150 million deal, enabling growth opportunities.
• Chardan's extensive experience includes raising over $30 billion for clients.

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• None.

NEW YORK, Sept. 1, 2022 /PRNewswire/ -- Chardan, a global investment bank, has announced the launch of its Chardan Equity Facility (ChEF) product, an innovative financing solution used to support the unique needs of its clients. The ChEF enables companies to raise equity on a periodic basis after becoming public, outside the context of a traditional underwritten follow-on offering.

Companies that have recently announced ChEFs include Senti Biosciences, Inc. (Nasdaq: SNTI), a synthetic biology platform company, that has entered into a $50 million ChEF, and Dragonfly Energy (Nasdaq:CNTQ), an energy-storage solutions company, which has announced an agreement to enter into a $150 million ChEF.

"The ChEF is ideal for newly public or soon-to-be public companies (i.e., de-SPACs) currently facing a challenging and uncertain capital markets environment who want the flexibility to raise capital quickly and efficiently. Chardan's transactional expertise and success raising billions of dollars for innovators worldwide over the past two decades enables us to be an ideal partner with the ChEF," said Jonas Grossman, Chardan's President and Managing Partner.

The recently announced ChEFs further demonstrate Chardan's commitment to creative solutions for companies seeking access to capital. Since 2002, Chardan has raised more than $30 billion for companies, including nearly $10 billion for healthcare companies. Additionally, Chardan is a leading sponsor, underwriter and adviser of SPAC transactions, having advised or underwritten nearly 150 SPAC transactions.

About Chardan

Chardan Capital Markets, LLC (Chardan) is an independent global investment bank specializing in healthcare, disruptive technologies, and SPACs. Our range of services include capital raising, merger and acquisition advisory, strategic advisory, equity research, corporate access, and institutional trading. Headquartered in New York City, Chardan is a registered broker-dealer with the U.S. Securities and Exchange Commission and is a member of the following: FINRA, SIPC, NASDAQ and the NYSE Arca, Inc. 

Learn more about Chardan at www.chardan.com

This press release is and the information contained therein are not intended to and does not constitute an offer to sell or the solicitation of an offer to buy, sell or solicit any securities or any proxy, vote or approval, nor shall there be any sale of securities of any particular company (including the referenced companies) in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be deemed to be made except by means of an applicable prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom. In addition, the availability of the proceeds of any ChEF to a company is subject to entering into the related documentation and the terms and conditions of such documentation and market and other conditions. 

Media Inquiries:

Emily Levine, Chardan
elevine@chardan.com (646) 465-9018

Margaret Gaenzle, Prosek Partners
mgaenzle@prosek.com (804) 714-8848

View original content:https://www.prnewswire.com/news-releases/chardan-announces-launch-of-chef-chardan-equity-facility-301616564.html

SOURCE Chardan

FAQ

What is the Chardan Equity Facility (ChEF)?

The ChEF is a financing solution that enables public companies to raise equity periodically without traditional follow-on offerings.

How much has Senti Biosciences raised through the ChEF?

Senti Biosciences has secured a $50 million ChEF to support its operations.

What is Dragonfly Energy's agreement related to the ChEF?

Dragonfly Energy has announced a $150 million agreement under the ChEF for capital raising.

How much capital has Chardan raised since 2002?

Chardan has raised over $30 billion for various companies since its establishment in 2002.