Dragonfly Energy Holdings Corp. (NASDAQ:DFLI), a lithium battery technology company, announced Friday that it acquired substantially all operating assets associated with the Dakota Lithium brand for $4 million.
The deal expands the company into marine, outdoor recreation, powersports, golf cart, and other specialty battery markets.
Revenue And EBITDA Contribution
The acquired assets include the Dakota Lithium brand, intellectual property, inventory, a complementary battery portfolio, and established customer and distributor relationships.
Dakota Lithium generated approximately $12 million in net revenue in 2025 despite working-capital and inventory constraints that limited product availability.
Dragonfly Energy expects the business to contribute meaningful revenue and become accretive to adjusted EBITDA in the fourth quarter of 2026.
Capital-Efficient Deal Structure
The purchase price consisted of $1 million in cash and $3 million in Dragonfly Energy common stock.
The company issued 1.5 million shares valued at $2 each, with the shares subject to a 12-month contractual lock-up.
Dragonfly Energy plans to operate Dakota Lithium as a distinct brand alongside Battle Born Batteries. It will support the brand through its existing commercial, fulfillment and customer-service infrastructure.
The company said the strategy could restore product availability and add revenue without a proportional increase in fixed costs.
Liquidity And Management Outlook
Dragonfly Energy reported $8.64 million in cash and cash equivalents as of March 31, 2026.
Its lenders also reduced the company’s minimum cash covenant and allowed interest for the next two quarters to be paid in kind.
The amendments are expected to preserve approximately $1 million of near-term liquidity.
“We believe Dakota Lithium represents a compelling strategic and financial opportunity for Dragonfly Energy,” CEO Denis Phares said.
“By supporting the Dakota Lithium brand through infrastructure we already have in place, we believe we can restore availability, reconnect with customers and grow the business efficiently.”
DFLI Price Action: Dragonfly Energy shares closed 6.61% higher at $1.29 on Thursday, according to Benzinga Pro data.
Photo by Juan Roballo via Shutterstock
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