Dragonfly Energy Holdings Corp., a leader in energy storage and battery technology, has announced the completion of an exchange agreement to eliminate all outstanding shares of its Series A Convertible Preferred Stock. Under the agreement, the company will issue 2,100,000 shares of common stock in exchange for the surrender of all Series A Preferred Stock shares. This strategic move removes associated dividend obligations and potential future dilution concerns, enhancing the company's financial flexibility. CEO Dr. Denis Phares stated that this settlement improves Dragonfly Energy's capital structure, allowing the company to focus more effectively on growth and profitability.
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