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COMMON STOCK
 9 Months Ended
Sep. 30, 2026
Equity [Abstract]  
COMMON STOCK

Note 13 - COMMON STOCK

 

Common stockholders are entitled to dividends if and when declared by the Board subject to the rights of the preferred stockholders. No dividends on common stock have been declared by the Company.

 

On January 30, 2026, the Company entered into an Equity Distribution Agreement with Canaccord Genuity LLC, as lead agent and representative of the other sales agents, establishing an at-the-market offering program under which the Company may, from time to time and at its discretion, offer and sell up to $50 million of its common stock. The Company is not obligated to sell any shares under the program and retains sole discretion over the timing, amount, pricing, and other terms of any sales effected through the lead agent. The program is intended to provide the Company with a flexible source of capital to support its liquidity needs and is subject to customary closing conditions, a 3% sales commission and reimbursement of specified expenses payable to the agents, and customary indemnification and contribution provisions. As of September 30, 2026, the Company sold 72,658 shares of common stock for net proceeds of $1,031.   

 

For the nine months ended September 30, 2026 and 2025, the Company had reserved shares of common stock for issuance as follows:

 

   September 30, 2026   September 30, 2025 
Options issued and outstanding   15,976    1,719 
Common stock outstanding   1,878,418    771,777 
Warrants outstanding   29,340    53,202 
Earnout Shares   34,722    34,722 
Series B Preferred Stock outstanding   99,206    - 
Shares available for future issuance   116,352    14,603 
Total   2,174,014    876,023 

 

 

DRAGONFLY ENERGY HOLDINGS CORP.

Notes to Unaudited Condensed Consolidated Financial Statements

(in thousands, except share and per share data)