jobynimble
1年前
DFLI 8-K filing: https://www.sec.gov/Archives/edgar/data/1847986/000149315223045052/form8-k.htm
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
On December 12, 2023, Dragonfly Energy Holdings Corp. (the “Company”) received a written notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) indicating that the Company is not in compliance with the $1.00 Minimum Bid Price requirement set forth in Nasdaq Listing Rule 5450(a)(1) for continued listing on The Nasdaq Global Market (the “Bid Price Requirement”). The Notice does not result in the immediate delisting of the Company’s common stock from The Nasdaq Global Market.
The Nasdaq Listing Rules require listed securities to maintain a minimum bid price of $1.00 per share and, based upon the closing bid price of the Company’s common stock for the 30 consecutive business days preceding the receipt of the Notice, the Company no longer meets the Bid Price Requirement. The Notice indicated that the Company will be provided an initial period of 180 calendar days, or until June 10, 2024, to regain compliance with the Bid Price Requirement pursuant to Nasdaq Listing Rule 5810(c)(3)(A). If at any time during this period the bid price of the Company’s common stock closes at or above $1.00 per share for a minimum of ten consecutive business days, the Nasdaq staff (the “Staff”) will provide the Company with a written confirmation of compliance and the matter will be closed.
Alternatively, if the Company fails to regain compliance with Rule 5450(a)(1) prior to the expiration of the initial 180 calendar day period, the Company may be eligible for a second 180 calendar day compliance period, provided the Company (i) transfers the listing of its common stock to The Nasdaq Capital Market, (ii) meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market (except for the Bid Price Requirement) and (iii) provides written notice to Nasdaq of its intention to cure this deficiency during the second compliance period by effecting a reverse stock split, if necessary. In the event the Company fails to regain compliance with Rule 5450(a)(1) prior to the expiration of the initial 180 calendar day period, and if it appears to the Staff that the Company will not be able to cure the deficiency, or if the Company is not otherwise eligible, the Staff will provide the Company with written notification that its common stock will be subject to delisting. At that time, the Company may appeal the Staff’s delisting determination to a Nasdaq hearings panel. However, there can be no assurance that, if the Company receives a delisting notice and appeals the delisting determination, that such an appeal would be successful.
The Company intends to monitor the closing bid price of its common stock and is considering its options to regain compliance with the Bid Price Requirement. The Company’s receipt of the Notice does not affect the Company’s business, operations or reporting requirements with the Securities and Exchange Commission (the “SEC”).
Item 8.01 Other Events.
The Company is including the below update to its risk factors, for the purpose of supplementing and updating the disclosure contained in its Annual Report on Form 10-K for the fiscal year ended December 31, 2022, filed with the SEC on April 17, 2023, as amended by the Form 10-K/A on May 1, 2023, and its Quarterly Reports on Form 10-Q for the period ended March 31, 2023, filed with the SEC on May 15, 2023, for the period ended June 30, 2023, filed with the SEC on August 21, 2023, and for the period ended September 30, 2023, filed with the SEC on November 14, 2023.
The Company is not currently in compliance with the continued listing requirements for The Nasdaq Global Market. If the Company does not regain compliance and continue to meet the continued listing requirements, the Company’s common stock may be delisted, which could affect the market price and liquidity for the Company’s common stock and reduce the Company’s ability to raise additional capital.
On December 12, 2023, the Company received a letter from the Listing Qualifications Staff of the Nasdaq Stock Market, LLC (“Nasdaq”) indicating that, based upon the closing bid price of its common stock for the 30 consecutive business days preceding the date of the Notice, the Company is not in compliance with the requirement to maintain a minimum bid price of $1.00 per share for continued listing on the Nasdaq Global Market, as set forth in Nasdaq Listing Rule 5450(a)(1) (the “Notice”). The Company was provided a compliance period of 180 calendar days from the date of the Notice, or until June 10, 2024, to regain compliance with the minimum closing bid requirement, pursuant to Nasdaq Listing Rule 5810(c)(3)(A).
The Company will continue to monitor the closing bid price of its common stock and seek to regain compliance with all applicable Nasdaq requirements within the allotted compliance periods and may, if appropriate, consider available options, including implementation of a reverse stock split, to regain compliance with the minimum closing bid requirement. If the Company seeks to implement a reverse stock split in order to remain listed on The Nasdaq Global Market, the announcement or implementation of such a reverse stock split could negatively affect the price of its common stock. If the Company does not regain compliance within the allotted compliance periods, including any extensions that may be granted by Nasdaq, Nasdaq will provide notice that its common stock will be subject to delisting. The Company would then be entitled to appeal that determination to a Nasdaq hearings panel. There can be no assurance that the Company will regain compliance with the minimum bid price requirement during the 180-day compliance period or maintain compliance with the other Nasdaq listing requirements. A delisting could substantially decrease trading in the Company’s common stock, adversely affect the market liquidity of the Company’s common stock as a result of the loss of market efficiencies associated with Nasdaq and the loss of federal preemption of state securities laws, adversely affect its ability to obtain financing on acceptable terms, if at all, and may result in the potential loss of confidence by investors, suppliers, customers and employees and fewer business development opportunities. Additionally, the market price of the Company’s common stock may decline further and stockholders may lose some or all of their investment.
jobynimble
1年前
Dragonfly Energy to Report Third Quarter 2023 Earnings on November 13, 2023
October 17 2023 - 07:30AM
GlobeNewswire Inc.
Dragonfly Energy Holdings Corp. (“Dragonfly Energy” or the “Company”) (Nasdaq: DFLI), an industry leader in energy storage and producer of deep cycle lithium-ion storage batteries, today announced that the Company will release its financial results for the third quarter ended September 30, 2023 after market close on Monday, November 13, 2023. The earnings press release will be followed by a conference call on November 13, 2023, hosted by members of the Dragonfly Energy management team at 5:00 PM Eastern Time.
Interested investors and other parties may access the live webcast via the link found here or through the Events and Presentations page within the Investor Relations section of Dragonfly Energy’s website at https://investors.dragonflyenergy.com/events-and-presentations/default.aspx. The call can also be accessed live via telephone by dialing (206) 962-3782, toll-free in North America (888) 259-6580, or for international callers (416) 764-8624, and referencing Dragonfly Energy. Please log in to the webcast or dial in to the call at least 10 minutes prior to the start of the event.
An archive of the webcast will be available for a period of time shortly after the call on the Events and Presentations page on the Investor Relations section of Dragonfly Energy’s website, along with the earnings press release.
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 Energy’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 Energy 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.
Investor Relations
Sioban Hickie, ICR, Inc.
DragonflyIR@icrinc.com
Source: Dragonfly Energy Holdings Corp.
jobynimble
2年前
Dragonfly Energy Showcases New Battery Cell Manufacturing Process and Intelligent Energy Storage Solutions at RE+ 2023
September 11 2023 - 07:30AM
GlobeNewswire Inc.
Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) (“Dragonfly Energy” or the “Company”), producer of deep cycle lithium-ion batteries and industry leader in energy storage, will be showcasing its proprietary battery cell manufacturing process and leading-edge products at RE+ 2023. The multi-day event, taking place on September 11-14 at the Venetian Convention & Expo Center in Las Vegas, attracts more than 27,000 professionals and 1,300 exhibitors, from over 100 countries and all segments of green and sustainable energy industry. This is the Company's second appearance at the annual RE+ conference.
“This is one of the largest gatherings of professionals and products in North America dedicated to clean energy, so it makes sense that Dragonfly Energy will be there to demonstrate our commitment to innovative energy storage solutions,” said Dr. Denis Phares, Chief Executive Officer of Dragonfly Energy. “We’re honored to showcase our plans to revolutionize clean energy storage with our industry peers.”
Attendees who visit the Dragonfly Energy exhibit space (Booth #5945 in the Energy Storage International Section) will be able to view a sample of the Company’s products and learn more about its patented technologies. Specifically, Dragonfly Energy will be showcasing:
Patented Cell Manufacturing Technology: Following the recent announcement of the completion of its new pilot line, Dragonfly Energy will be showcasing its proprietary dry electrode battery manufacturing process that is capable of producing batteries across various lithium chemistries including LFP, NMC and LCO. The patented processes operate within a significantly smaller manufacturing footprint and consume notably less power than traditional methods. The technology will also be used for the development of the Company’s previously announced non-flammable solid state battery cells.
Battle Born Batteries: Recognized for their reliability, chemical stability and advanced technology, these industry-leading lithium iron phosphate (LiFePO4) batteries, power system kits and accessories will be on exhibit.
Dragonfly IntelLigenceTM: Using patented battery communication and monitoring technology, the Company will be demonstrating its latest advancements that provide users with unparalleled access to monitoring, notification, performance, and safety tools — with real-time notifications from anywhere in the world via the Dragonfly IntelLigenceTM mobile app.
Industrial Solar Integration: Increasingly, industrial applications demand off-grid solar, combined with batteries to power remote equipment. Dragonfly Energy representatives will be on hand to provide custom solutions for supplying reliable power via self-sustaining units that store solar energy in lithium batteries and deliver power where grid connectivity is not readily available.
Home Energy Storage: Another new product on display will be the Battle Born Base Station. This easy-to-install and expandable energy storage unit provides a powerful, safe and long-lasting battery solution to homes, businesses and industrial applications for backup and off-grid power.
“Dragonfly Energy continues to innovate and work towards bringing the safest and most cost-effective products to market to transform how we store energy, on and off the grid,” Dr. Phares said. “We’re thrilled to shine a spotlight on these innovations and demonstrate practical applications in a variety of settings during RE+ 2023.”
To learn more about Dragonfly Energy, visit DragonflyEnergy.com.
About Dragonfly Energy
Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) headquartered in Reno, Nevada, is a leading supplier of deep cycle lithium-ion batteries. Dragonfly Energy’s research and development initiatives are revolutionizing the energy storage industry through innovative technologies and manufacturing processes. Today, Dragonfly Energy’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 Energy is also focused on delivering an energy storage solution to enable a more sustainable and reliable smart grid through the future deployment of its proprietary and patented solid-state cell technology. To learn more, visit www.dragonflyenergy.com/investors.
jobynimble
2年前
Dragonfly Energy Leverages Cutting-Edge Lithium Battery Research Instrumentation from Bruker
September 06 2023 - 07:43AM
GlobeNewswire Inc.
Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) (“Dragonfly Energy” or the “Company”), maker of Battle Born Batteries™ and an industry leader in energy storage, has continued to invest in the development of battery cell manufacturing with cutting-edge research equipment from Bruker Corporation (“Bruker”) (Nasdaq: BRKR).
Dragonfly Energy uses Bruker’s nuclear magnetic resonance (“NMR”)-based equipment to study lithium batteries at a fundamental level. Through NMR, battery scientists can pull electrolyte samples at various points during the lifetime of a battery for various measurements, which could optimize the performance of cells produced using the Company’s patented dry electrode process. The Company recently announced the completion of its domestic cell manufacturing pilot line and expects to produce full cells by the end of 2023.
“The performance and long-term behavior of lithium ion batteries depend on nanoscale structures that form and evolve over the lifetime of the batteries. It has been integral to our mission to build a world class battery lab to better observe these structures, as we develop new manufacturing processes and explore new materials for storage applications,” Dragonfly Energy Chief Executive Officer Dr. Denis Phares said. “Bruker has a reputation for building some of the most advanced equipment in the world. We believe that by working closely with them, we are able to innovate and develop batteries that meet strict safety and performance requirements, allowing the widespread deployment of cost-effective energy storage on and off the grid.”
For more than ten years, with over fifty-five filed and pending patents, and hundreds of thousands of battery packs already in the field, Dragonfly Energy is a comprehensive lithium battery and energy storage technology company. A critical part of maintaining this technology leadership is making sure their expert team of scientists have access to leading-edge instrumentation.
“A lithium ion battery is a very complex and dynamic system when cycling,” Dr. Vick Singh, Director of Research and Development at Dragonfly Energy, said. “With this new, cutting-edge instrumentation, we believe we are gaining valuable insights into chemistry and manufacturing optimization which is allowing us to make rapid strides in new cell designs and chemistries.”
Numerous technologies among Bruker’s extensive product portfolio have been utilized in Dragonfly’s advancements with lithium battery cells, including AFM, FT-IR, NMR, Raman, XRD, and XRF, among others.
"We are excited to cooperate with Dragonfly Energy and showcase how our various analytical technologies provide value for the different stages of the battery cell value chain,” commented Dr. Joerg Koehler, Head of Business Unit Industrial Analysis at Bruker BioSpin. “Understanding the chemical processes and optimizing materials is essential for optimal battery performance. Therefore, providing a comprehensive solution for material characterization suitable for both research and quality control in manufacturing is crucial. Bringing the talented teams of Bruker and Dragonfly Energy together and sharing these objectives we believe will ultimately, redefine renewable energy storage."
To learn more about Dragonfly Energy, visit DragonflyEnergy.com.
About Dragonfly Energy
Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) headquartered in Reno, Nevada, is a leading supplier of deep cycle lithium-ion batteries. Dragonfly Energy’s research and development initiatives are revolutionizing the energy storage industry through innovative technologies and manufacturing processes. Today, Dragonfly Energy’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 Energy is also focused on delivering an energy storage solution to enable a more sustainable and reliable smart grid through the future deployment of its proprietary and patented solid-state cell technology. To learn more, visit www.dragonflyenergy.com/investors.
About Bruker Corporation
Bruker (Nasdaq: BRKR) is enabling scientists to make breakthrough discoveries and develop new applications that improve the quality of human life. Bruker’s high performance scientific instruments and high value analytical and diagnostic solutions enable scientists to explore life and materials at molecular, cellular and microscopic levels. In close cooperation with our customers, Bruker is enabling innovation, improved productivity and customer success in life science molecular and cell biology research, in applied and pharma applications, in microscopy and nanoanalysis, as well as in industrial applications. Bruker offers differentiated, high-value life science and diagnostics systems and solutions in preclinical imaging, clinical phenomics research, proteomics and multiomics, spatial and single-cell biology, functional structural and condensate biology, as well as in clinical microbiology and molecular diagnostics. For more information, please visit: www.bruker.com.
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