Dragonfly Energy to Ring the Opening Bell at Nasdaq October 21st

Rhea-AI Summary

Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) announced its participation in the Nasdaq Opening Bell Ceremony on October 21, 2022, to celebrate its business combination closure and trading commencement on October 7, 2022. CEO Dr. Denis Phares expressed enthusiasm about going public and the company's commitment to providing lithium-ion batteries to replace lead-acid batteries across various markets. Dragonfly focuses on innovative energy storage solutions, including solid-state technology, targeting a more sustainable smart grid.

Positive

• Successful business combination with Chardan NexTech Acquisition 2 Corp.
• Commencement of trading under the ticker 'DFLI' on October 7, 2022.
• Focus on innovative deep cycle lithium-ion batteries displacing lead-acid batteries.

Negative

• Risks associated with market penetration and competition.
• Dependence on key suppliers and customer relationships.
• Uncertainty in scaling production of solid-state cells.

RENO, Nev., Oct. 20, 2022 (GLOBE NEWSWIRE) -- Dragonfly Energy Holdings Corp., (“Dragonfly”) (Nasdaq DFLI) an industry leader in energy storage and producer of deep cycle lithium-ion storage batteries, announced today the management team will participate in the Opening Bell Ceremony at the Nasdaq Stock Market on Friday, October 21^st to celebrate the closing of its business combination and the commencement of trading under the ‘DFLI’ ticker on October 7^th.

The ceremony will take place at the Nasdaq MarketSite, 4 Times Square, New York, NY. The live ceremonies will begin at 9:15 a.m. ET and can be viewed at https://www.nasdaq.com/marketsite/bell-ringing-ceremony.

Dr Denis Phares, Dragonfly Energy’s CEO, will lead the ceremony, alongside members of the Company’s management team and advisors. “This is an exciting moment for the Dragonfly Energy team as we celebrate the major milestone of going public. We look forward to continuing our journey to supply lithium-ion, deep cycle batteries to the market, displacing lead-acid batteries; and our continued development of energy storage solutions that will provide a safer, more sustainable, reliable smart grid for the future.”

About Dragonfly
Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) headquartered in Reno, Nevada, is a leading supplier of deep cycle lithium-ion batteries. Dragonfly’s research and development initiatives are revolutionizing the energy storage industry through innovative technologies and manufacturing processes. Today, Dragonfly’s non-toxic deep cycle lithium-ion batteries are displacing lead-acid batteries across a wide range of end-markets, including RVs, marine vessels, off-grid installations, and other storage applications. Dragonfly is also focused on delivering an energy storage solution to enable a more sustainable and reliable smart grid through the future deployment of the Company’s proprietary and patented solid-state cell technology. To learn more, visit www.dragonflyenergy.com/investors.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical statements of fact and statements regarding the Company’s intent, belief or expectations, including, but not limited to, statements regarding the Company’s future results of operations and financial position, planned products and services, business strategy and plans, market size and growth opportunities, competitive position and technological and market trends. Some of these forward-looking statements can be identified by the use of forward-looking words, including “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “plan,” “targets,” “projects,” “could,” “would,” “continue,” “forecast” or the negatives of these terms or variations of them or similar expressions.

These forward-looking statements are subject to risks, uncertainties, and other factors (some of which are beyond the Company’s control) which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that may impact such forward-looking statements include, but are not limited to: the Company’s ability to recognize the anticipated benefits of the of the Company’s recent business combination with Chardan NexTech Acquisition 2 Corp. and related transactions; the Company’s ability to successfully increase market penetration into target markets; the growth of the addressable markets that the Company intends to target; the Company’s ability to retain members of its senior management team and other key personnel; the Company’s ability to maintain relationships with key suppliers including suppliers in China; the Company’s ability to maintain relationships with key customers; the Company’s post-closing ability to access capital as and when needed under its $150 million ChEF Equity Facility; the Company’s ability to protect its patents and other intellectual property; the Company’s ability to successfully optimize solid state cells and to produce commercially viable solid state cells in a timely manner or at all, and to scale to mass production; the Company’s ability to achieve the anticipated benefits of its customer arrangements with THOR Industries and THOR Industries’ affiliated brands (including Keystone RV Company); the impact of the coronavirus disease pandemic, including any mutations or variants thereof and/or the Russian/Ukrainian conflict; the Company’s ability to generate revenue from future product sales and its ability to achieve and maintain profitability; and the Company’s ability to compete with other manufacturers in the industry and its ability to engage target customers and successfully convert these customers into meaningful orders in the future. These and other risks and uncertainties are described more fully in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s Registration Statement on Form S-4 relating to the business combination declared effective by the U.S. Securities and Exchange Commission the (“SEC”) on September 16, 2022, in the Company’s Current Report on Form 8-K filed with the SEC on October 7, 2022, and in the Company’s subsequent filings with the SEC.

If any of these risks materialize or any of the Company’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that the Company presently does not know or that it currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. All forward-looking statements contained in this press release speak only as of the date they were made. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Dragonfly Contacts:

Investor Relations
Sioban Hickie, ICR, Inc.
DragonflyIR@icrinc.com

Source: Dragonfly Energy Holdings Corp.

FAQ

What is Dragonfly Energy's ticker symbol?

Dragonfly Energy trades under the ticker symbol 'DFLI'.

When did Dragonfly Energy commence trading on Nasdaq?

Dragonfly Energy commenced trading on Nasdaq on October 7, 2022.

What significant event is Dragonfly Energy celebrating on October 21, 2022?

Dragonfly Energy is participating in the Opening Bell Ceremony at Nasdaq to celebrate its business combination.

What industry does Dragonfly Energy operate in?

Dragonfly Energy operates in the energy storage industry, focusing on lithium-ion batteries.