By Stephen Nakrosis
Shares of blank-check company Chardan NexTech Acquisition 2 Corp. were lower in Wednesday's late trading session after more than doubling in the day's regular session.
After the bell Tuesday, Chardan reported Chief Executive Jonas Grossman has recently purchased 485,000 shares of the company's stock at $10.36 per share. The company also said Director Kerry Propper had recently purchased 485,000 shares, also at $10.36 per share.
The stock on Wednesday closed 102.63% higher at $21.54 per share.
After the bell, the company said stockholders elected to redeem almost 2.1 million common shares as of 5 p.m. EDT on Oct. 4, the deadline for those who wished to redeem shares for cash. The company also said after the redemption about 1.02 million shares will remain issued and outstanding. At 5:47 p.m. EDT, the company's shares were trading 8.08% lower at $19.80 per share.
In May, the company said it entered into a definitive agreement for a business combination with energy storage company Dragonfly Energy Corp. which will see Dragonfly become a publicly traded company.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
October 05, 2022 18:03 ET (22:03 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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