Filed
Pursuant to Rule 424(b)(2)
File
No. 333-275559
PROSPECTUS
Dragonfly
Energy Holdings Corp.
$150,000,000
Common
Stock
Preferred
Stock
Warrants
Debt
Securities
Subscription
Rights
Units
We
may offer, issue and sell from time to time together or separately, in one or more offerings, any combination of (i) our common stock,
(ii) our preferred stock, which we may issue in one or more series, (iii) warrants, (iv) senior or subordinated debt securities, (v)
subscription rights and (vi) units. The debt securities may consist of debentures, notes, or other types of debt. The debt securities,
preferred stock, warrants and subscription rights may be convertible into, or exercisable or exchangeable for, common or preferred stock
or other securities of ours. The units may consist of any combination of the securities listed above.
The
aggregate public offering price of the securities that we may offer will not exceed $150,000,000. We will offer the securities in an
amount and on terms that market conditions will determine at the time of the offering. Our common stock, par value $0.0001 per share,
is currently listed on the Nasdaq Global Market (“Nasdaq”) under the symbol “DFLI” and our public
warrants are currently listed on the Nasdaq Capital Market under the symbol “DFLIW”. On November 9, 2023, the
last reported sale price of our common stock was $0.716 per share. On November 9, 2023, the last reported sale price
of our public warrants was $0.056. You are urged to obtain current market quotations of our common stock and public
warrants. We have no preferred stock, debt securities, subscription rights or units listed on any market. Each prospectus supplement
will indicate if the securities offered thereby will be listed on any securities exchange.
Investing
in our securities involves risk. You should carefully consider the risks that we refer you to under the section captioned “Risk
Factors” in this prospectus on page 3 before buying our securities.
Should
we offer any of the securities described in this prospectus, we will provide you with the specific terms of the particular securities
being offered in supplements to this prospectus. You should read this prospectus and any supplement, together with additional information
described under the headings “Additional Information” and “Incorporation of Certain Information by Reference”
carefully before you invest. This prospectus may not be used to sell securities unless accompanied by a prospectus supplement.
We
may sell these securities directly to our stockholders or to other purchasers or through agents on our behalf or through underwriters
or dealers as designated from time to time. If any agents or underwriters are involved in the sale of any of these securities, the applicable
prospectus supplement will provide the names of the agents or underwriters and any applicable fees, commissions or discounts.
Neither
the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined
if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
The
date of this prospectus is November 24, 2023.
TABLE
OF CONTENTS
Dragonfly Energy Holdings Corp. is referred to herein as “Dragonfly Energy,” “the Company,”
“we,” “us,” and “our,” unless the context otherwise indicates.
You
may only rely on the information contained in this prospectus and the accompanying prospectus supplement or that we have referred you
to. We have not authorized anyone to provide you with different information. This prospectus and any prospectus supplement do not constitute
an offer to sell or a solicitation of an offer to buy any securities other than the securities offered by this prospectus and the prospectus
supplement. This prospectus and any prospectus supplement do not constitute an offer to sell or a solicitation of an offer to buy any
securities in any circumstances in which such offer or solicitation is unlawful. Neither the delivery of this prospectus or any prospectus
supplement nor any sale made hereunder shall, under any circumstances, create any implication that there has been no change in our affairs
since the date of this prospectus or such prospectus supplement or that the information contained by reference to this prospectus or
any prospectus supplement is correct as of any time after its date.
ABOUT
THIS PROSPECTUS
This
prospectus is part of a registration statement that we filed with the Securities and Exchange Commission, or SEC, using a “shelf”
registration process. Under this shelf registration process, we may from time to time offer and sell, in one or more offerings, any or
all of the securities described in this prospectus, separately or together, up to an aggregate offering price of $150,000,000. This prospectus
provides you with a general description of our securities being offered. When we issue the securities being offered by this prospectus,
we will provide a prospectus supplement that will contain specific information about the terms of that offering. The prospectus supplement
may also add, update or change information contained in this prospectus. You should read both this prospectus and any prospectus supplement
together with additional information described under the heading “Additional Information” and “Incorporation of Certain
Information by Reference.”
PROSPECTUS
SUMMARY
The
following summary highlights some information from this prospectus. It is not complete and does not contain all of the information that
you should consider before making an investment decision. You should read this entire prospectus, including the “Risk Factors”
section on page 3 and the disclosures to which that section refers you, the financial statements and related notes and the other more
detailed information appearing elsewhere or incorporated by reference into this prospectus before investing in any of the securities
described in this prospectus.
The
Company
We
are a manufacturer of non-toxic deep cycle lithium-ion batteries that are designed to displace lead acid batteries in a number of different
storage applications and end markets including recreational vehicles, marine vessel, solar and off-grid residence industries,
with disruptive solid-state cell technology currently under development. Our goal is to develop technology to deliver environmentally
impactful solutions for energy storage to everyone globally. We believe that the innovative design of our lithium-ion batteries is ideally
suited for the demands of modern customers who rely on consumer electronics, connected devices and smart appliances that require continuous,
reliable electricity, regardless of location.
Since
2020, we have sold over 281,000 batteries. We currently offer a line of batteries across our “Battle Born” and “Dragonfly”
brands, each differentiated by size, power and capacity, consisting of seven different models, four of which come with a heated option.
We primarily sell “Battle Born” branded batteries directly to consumers and “Dragonfly” branded batteries
to original equipment manufacturers.
We
currently source the lithium iron phosphate cells incorporated into our batteries from a limited number of carefully selected suppliers
that can meet our demanding quality standards and with whom we have developed long-term relationships.
To
supplement our battery offerings, we also offer our line of proprietary Wakespeed alternator regulation products which are necessary
to ensure that the alternator does not get unduly stressed during the current delivery to the batteries, and that the current delivery
remains within the operating limits of the onboard battery bank. In addition to its own accessories, we are also a reseller of accessories
for battery systems. These include chargers, inverters, monitors, controllers, solar panels and other system accessories from brands
such as Victron Energy, Progressive Dynamics, REDARK, Rich Solar, and Sterling Power.
In
addition to our conventional lithium iron phosphate (“LFP”) batteries, we are currently developing the next generation
of LFP solid-state cells. Since our founding, we have been developing proprietary battery cell manufacturing processes and solid-state
battery cell technology for which we have issued patents and pending patent applications, where appropriate. Solid-state lithium-ion
technology eliminates the use of a liquid electrolyte, which addresses the residual heat and flammability issues arising from lithium-ion
batteries.
The
unique competitive advantage of our cell manufacturing process is highlighted by our dry deposition technology, which completely
displaces the need for toxic solvents in the manufacturing process and allows for the rapid and scalable production of chemistry-agnostic
cells. Additionally, our internal production of battery cells will streamline our supply chain, allowing us to vertically integrate our
cells into our batteries, thereby lowering our production costs. In October 2023, we announced the successful dry deposition of anode
and cathode electrodes at scale using our patented battery manufacturing process. We expect to begin producing LFP cells in the United
States by the end of 2023.
The Business Combination
On October 7, 2022, Chardan NexTech 2 Acquisition
Corp., a Delaware company (“CNTQ”), and Dragonfly Energy Corp., a Nevada corporation (“Legacy Dragonfly”)
consummated the merger pursuant to the Agreement and Plan of Merger, dated as of May 15, 2022 (as amended, the “Business Combination
Agreement”), by and among CNTQ, Bronco Merger Sub, Inc., a Delaware corporation and wholly-owned subsidiary of CNTQ (“Merger
Sub”), and Legacy Dragonfly. Pursuant to the Business Combination Agreement, Merger Sub merged with and into Legacy Dragonfly
(the “Merger” and, together with the other transactions contemplated by the Business Combination Agreement, the “Business
Combination”), with Legacy Dragonfly continuing as the surviving corporation in the Merger and as our wholly owned subsidiary.
In connection with the Business Combination, we changed our name from “Chardan NexTech Acquisition 2 Corp.” to “Dragonfly
Energy Holdings Corp.” Following the Business Combination, our business is the business of Legacy Dragonfly.
Emerging
Growth Company
We
are an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business
Startups Act of 2012 (the “JOBS Act”). As such, we are eligible to take advantage of certain exemptions from various
reporting requirements that are applicable to other public companies that are not “emerging growth companies” including,
but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of
2002 (the “Sarbanes-Oxley Act”), reduced disclosure obligations regarding executive compensation in our periodic reports
and proxy statements, and exemptions from the requirements of holding a non-binding advisory vote on executive compensation and stockholder
approval of any golden parachute payments not previously approved. If some investors find our securities less attractive as a result,
there may be a less active trading market for our securities and the prices of our securities may be more volatile.
We
will remain an emerging growth company until the earlier of: (1) the last day of the fiscal year (a) ending December 31, 2026, (b) in
which we have total annual gross revenue of at least $1.235 billion, or (c) in which we are deemed to be a large accelerated filer, which
means the market value of our common stock that is held by non-affiliates exceeds $700 million as of the end of the prior fiscal
year’s second fiscal quarter; and (2) the date on which we have issued more than $1.0 billion in non-convertible debt during the
prior three-year period. References herein to “emerging growth company” shall have the meaning associated with it in the
JOBS Act.
Smaller
Reporting Company
Additionally,
we are a “smaller reporting company” as defined in Item 10(f)(1) of Regulation S-K. Smaller reporting companies may take
advantage of certain reduced disclosure obligations, including, among other things, providing only two years of audited financial statements.
We will remain a smaller reporting company until the last day of the fiscal year in which (i) the market value of our common stock
held by non-affiliates exceeds $250 million as of the prior June 30, or (ii) our annual revenues exceeded $100 million during such
completed fiscal year and the market value of our common stock held by non-affiliates exceeds $700 million as of the prior June
30.
Corporate
Information
Our
address is 1190 Trademark Dr. #108, Reno, Nevada 89521, and our telephone number is (775) 622-3448. Our corporate website is: www.dragonflyenergy.com.
The content of our website shall not be deemed incorporated by reference in this prospectus and you should not consider such information
as part of this prospectus.
RISK
FACTORS
Investing
in our securities involves significant risks. Before making an investment decision, you should carefully consider the risks and other
information we include or incorporate by reference in this prospectus and any prospectus supplement. In particular, you should consider
the risk factors under the heading “Risk Factors” included in our most recent Annual Report on Form 10-K, as may be
revised or supplemented by our subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K, each of which are on file with
the SEC and are incorporated herein by reference, and which may be amended, supplemented or superseded from time to time by other reports
we file with the SEC in the future. The risks and uncertainties we have described are not the only ones facing our company. Additional
risks and uncertainties not currently known to us may also affect our business operations. Additional risk factors may be included in
a prospectus supplement relating to a particular offering of securities. Our business, financial condition or results of operations could
be materially adversely affected by any of these risks. The trading price of our securities could decline due to any of these risks,
and you may lose all or part of your investment. This prospectus is qualified in its entirety by these risk factors.
FORWARD-LOOKING
STATEMENTS
This
prospectus, including the documents that we incorporate by reference, contains forward-looking statements as that term is defined in
the federal securities laws. The events described in forward-looking statements contained in this prospectus, including the documents
that we incorporate by reference, may not occur. Generally, these statements relate to our business plans or strategies, projected or
anticipated benefits or other consequences of our plans or strategies, financing plans, projected or anticipated benefits from acquisitions
that we may make, or projections involving anticipated revenues, earnings or other aspects of our operating results or financial position,
and the outcome of any contingencies. Any such forward-looking statements are based on current expectations, estimates and projections
of management. We intend for these forward-looking statements to be covered by the safe-harbor provisions for forward-looking statements.
Words such as “may,” “expect,” “believe,” “anticipate,” “project,” “plan,”
“intend,” “estimate,” and “continue,” and their opposites and similar expressions are intended to
identify forward-looking statements. We caution you that these statements are not guarantees of future performance or events and are
subject to a number of uncertainties, risks and other influences, many of which are beyond our control that may influence the accuracy
of the statements and the projections upon which the statements are based. Factors that may affect our results include, but are not limited
to, the risks and uncertainties discussed in the “Risk Factors” section on page 3 of this prospectus, in our Annual
Report on Form 10-K for the fiscal year ended December 31, 2022 or in other reports we file with the SEC.
Any
one or more of these uncertainties, risks and other influences could materially affect our results of operations and whether forward-looking
statements made by us ultimately prove to be accurate. Our actual results, performance and achievements could differ materially from
those expressed or implied in these forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking
statements, whether from new information, future events or otherwise.
You
should rely only on the information in this prospectus. We have not authorized any other person to provide you with different information.
If anyone provides you with different or inconsistent information, you should not rely upon it.
USE
OF PROCEEDS
Unless
we inform you otherwise in the prospectus supplement relating to a particular offering of securities, we will use the net proceeds from
the sale of the securities offered by this prospectus and the exercise price from the exercise of any convertible securities, if any,
for the repayment of all or a portion of our outstanding debt and for working capital and other general corporate purposes, which may
include funding acquisitions or investments in businesses, products or technologies that are complementary to our own.
When
particular securities are offered, the prospectus supplement relating to that offering will set forth our intended use of the net proceeds
received from the sale of those securities we sell. Pending the application of the net proceeds for these purposes, we expect to invest
the proceeds in short-term, interest-bearing instruments or other investment-grade securities.
THE
SECURITIES WE MAY OFFER
General
The
descriptions of the securities contained in this prospectus, together with the applicable prospectus supplements, summarize all of the
material terms and provisions of the various types of securities that we may offer. We will describe in the applicable prospectus supplement
relating to any securities the particular terms of the securities offered by that prospectus supplement. If we indicate in the applicable
prospectus supplement, the terms of the securities may differ from the terms we have summarized below. We may also include in the prospectus
supplement information about material United States federal income tax considerations relating to the securities, and the securities
exchange, if any, on which the securities will be listed.
We
may sell from time to time, in one or more offerings:
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common
stock; |
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preferred
stock; |
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warrants
to purchase shares of common stock or preferred stock; |
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debt
securities; |
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subscription
rights to purchase shares of common stock, preferred stock or debt securities; and |
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units
consisting of any combination of the securities listed above. |
In
this prospectus, we refer to the common stock, preferred stock, warrants, debt securities, subscription rights and units collectively
as “securities.” The total dollar amount of all securities that we may sell pursuant to this prospectus will not exceed $150,000,000.
If
we issue debt securities at a discount from their original stated principal amount, then, for purposes of calculating the total dollar
amount of all securities issued under this prospectus, we will treat the initial offering price of the debt securities as the total original
principal amount of the debt securities.
This
prospectus may not be used to consummate a sale of securities unless it is accompanied by a prospectus supplement.
DESCRIPTION
OF CAPITAL STOCK
The
following summary of the material terms of our securities is not intended to be a complete summary of the rights and preferences of such
securities. You are encouraged to read the applicable provisions of the Nevada Revised Statutes, as amended (“NRS”),
our Articles of Incorporation and our Bylaws in their entirety for a complete description of the rights and preferences of our securities.
Copies of our Articles of Incorporation and Bylaws are filed as exhibits to our Annual Report on Form 10-K for the
year ended December 31, 2022, filed with the SEC on April 17, 2023, as amended on May 1, 2023, and forms of securities, copies of which
are filed as exhibits to the registration statement of which this prospectus forms a part, which are incorporated by reference herein.
Authorized
Capitalization
We
have 175,000,000 shares of capital stock authorized under our Articles of Incorporation, which consists of 170,000,000 shares of common
stock with a par value of $0.0001 per share and 5,000,000 shares of preferred stock with par value $0.0001 per share.
As
of November 9, 2023 there were 59,550,812 shares of common stock outstanding and no shares of preferred stock outstanding.
Common
Stock
Holders
of our common stock are entitled to such dividends as may be declared by our board of directors out of funds legally available
for such purposes. Holders of our common stock are entitled to receive proportionately any dividends as may be declared by our
board, subject to any preferential dividend rights of any series of preferred stock that we may designate and issue in the future. The
shares of common stock are neither redeemable nor convertible. Holders of common stock have no preemptive or subscription
rights to purchase any of our securities. The rights, preferences and privileges of holders of our common stock are subject to
and may be adversely affected by the rights of the holders of shares of any series of preferred stock that we may designate and issue
in the future. Each holder of our common stock is entitled to one vote for each such share outstanding in the holder’s name.
No holder of common stock is entitled to cumulate votes in voting for directors.
In
the event of our liquidation, dissolution or winding up, the holders of our common stock are entitled to receive a pro rata share
of our assets, which are legally available for distribution, after payments of all debts and other liabilities. All of the outstanding
shares of our common stock are fully paid and non-assessable.
Redeemable
Warrants
Public
Warrants
On
October 7, 2022, we issued public warrants to purchase 9,487,500 shares of our common stock (the “Public Warrants”).
Each whole redeemable Public Warrant entitles the
registered holder to purchase one share of common stock at a price of $11.50 per share, subject to adjustment as described below.
The Public Warrants will expire on October 7, 2027 at 5:00 p.m., New York City time, or earlier upon redemption or liquidation. The Public
Warrants are exercisable, at the option of each holder, in whole or in part by delivering to us and the warrant agent a duly executed
exercise notice accompanied by payment in full for the number of common stock purchased upon such exercise. As of November 9, 2023, Public Warrants to purchase up to 9,422,905 shares of our common stock were issued and outstanding.
The
exercise price for the Public Warrants is subject to adjustment for stock splits or combinations, stock dividends and distributions,
reclassifications, subdivisions, and other similar transactions. Pursuant to the Warrant Agreement (as defined below), a Public
Warrant holder may exercise its warrants only for a whole number of shares of common stock. No fractional shares will be issued
in connection with the exercise of a Public Warrant. In lieu of fractional shares, we will, upon exercise, round down to the nearest
whole number of shares of common stock to be issued to the Public Warrant holder.
If
a registration statement registering under the Securities Act the issuance of the shares of common stock underlying the Public
Warrants is not effective or available, the holder may, in its sole discretion, elect to exercise the Public Warrants for cash or on
a cashless basis, and we will not be obligated to issue any shares to registered holders seeking to exercise their Public Warrants, unless
the issuance of the shares upon such exercise is registered or qualified under the securities laws of the state of the exercising registered
holder, or an exemption from registration or qualification is available.
We
may call the Public Warrants for redemption in accordance with the terms summarized below:
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in
whole and not in part; |
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at
a price of $0.01 per Public Warrant; |
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upon
a minimum of 30 days’ prior written notice of redemption (the “30-day redemption period”) to each warrant
holder; |
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if,
and only if, the last sales price of our common stock equals or exceeds $16.00 per share for any ten (10) trading days within
a 30-trading day period ending three business days before we send the notice of redemption; and |
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if,
and only if, there is a current registration statement in effect with respect to the offer and sale of the shares of common stock underlying
such Public Warrants at the time of redemption and for the entire 30-trading day period referred to above and continuing each day
thereafter until the date of redemption. |
We
may not exercise our redemption right if the issuance of shares of common stock upon exercise of the Public Warrants (i) is not
exempt from registration or qualification under applicable state blue sky laws – we will use our best efforts to register or qualify
such shares or (ii) we are unable to effect such registration or qualification. However, there may be instances in which registered holders
of our public warrants may be unable to exercise such public warrants but registered holders of our Private Warrants, described below,
may be able to exercise such Private Warrants.
In
the event that we elect to redeem all of the Public Warrants, we will fix a date for the redemption, and a notice of redemption will
then be mailed by first class mail, postage prepaid, not less than 30 days prior to the date fixed for redemption to the registered holders
of the warrants to be redeemed at their last addresses as they appear on the registration books. Any notice mailed in the foregoing manner
will be conclusively presumed to have been duly given whether or not the registered holder received such notice. Additionally, while
we are required to provide such notice of redemption, we are not separately required to, and do not currently intend to, notify any holders
of when the warrants become eligible for redemption.
A
holder of a Public Warrant may notify us in writing in the event it elects to be subject to a requirement that such holder will not have
the right to exercise such warrant, to the extent that after giving effect to such exercise, such person (together with such person’s
affiliates), to the warrant agent’s actual knowledge, would beneficially own in excess of 9.99% (or such other amount as a holder
may specify) of the shares of common stock outstanding immediately after giving effect to such exercise.
The
Public Warrants have certain anti-dilution and adjustment rights upon certain events.
The
Public Warrants are issued in registered form under the warrant agreement between American Stock Transfer & Trust Company, LLC, as
warrant agent, and us (the “Warrant Agreement”). The Warrant Agreement provides that the terms of the
Public Warrants may be amended without the consent of any holder to cure any ambiguity or correct any defective provision, but requires
the approval by the holders of at least a majority of the then issued and outstanding Public Warrants to make any change that adversely
affects the interests of the registered holders of Public Warrants.
Public
Warrants may be exercised only for a whole number of shares of common stock. No fractional shares will be issued upon exercise
of the Public Warrants. If, upon exercise of the warrants, a holder would be entitled to receive a fractional interest in a share, we
will, upon exercise, round down to the nearest whole number of shares of common stock to be issued to the warrant holder.
Private
Warrants
On
October 7, 2022, we issued warrants to purchase 4,627,858 shares of our common stock (the “Private Warrants”) to an
affiliate of Chardan NexTech Investments 2 LLC (the “Sponsor”) in a private placement.
The Private Warrants (including the common stock issuable upon their exercise of the Private Warrants) are not redeemable by us
so long as they are held by Sponsor or its permitted transferees. Sponsor, or its permitted transferees, have the option to exercise
the Private Warrants on a cashless basis. Except as described below, the Private Warrants have terms and provisions that are identical
to those of the Public Warrants, including as to exercise price, exercisability and exercise period. If the Private Warrants are held
by holders other than Sponsor or its permitted transferees, the Private Warrants will be redeemable by us and exercisable by the holders
on the same basis as the Public Warrants. As of November 9, 2023, Private Warrants to purchase up to 1,501,386 shares of our common stock were issued and outstanding.
If
holders of the Private Warrants elect to exercise them on a cashless basis, they would pay the exercise price by surrendering their Private
Warrants for that number of shares of common stock equal to the quotient obtained by dividing (x) the product of the number of
shares of common stock underlying the Private Warrants, multiplied by the difference between the exercise price of the Private
Warrant warrants and the “fair market value” (defined below) by (y) the fair market value. The “fair market value”
shall mean the volume weighted average last reported sale price of the common stock for the 10 trading days ending on the third
trading day prior to the date on which the notice of warrant exercise is sent to the warrant agent.
Holders
of our Private Warrants are entitled to certain registration rights. The Private Warrants purchased by Sponsor will not be exercisable
on or after August 10, 2026, in accordance with the Financial Industry Regulatory Authority, Inc. (“FINRA”) Rule 5110(g),
as long as Sponsor or any of its related persons beneficially own the Private Warrants.
Penny
Warrants
On
October 7, 2022, we issued warrants to purchase 2,593,056 shares of our common stock at an exercise price of $0.01 per share (the “Penny
Warrants”). The Penny Warrants have an
exercise period of 10 years from the date of issuance. The Penny Warrants have specified weighted average anti-dilution protection against
subsequent equity sales or distributions at below $10 per share, subject to customary exclusions including for issuances upon conversion
exercise or exchange of securities outstanding as of October 7, 2022, issuances pursuant to agreements in effect as of October
7, 2022 (provided such issuances are taken into account in the calculation of “on a fully diluted basis” as provided
above), issuances pursuant to employee benefit plans and similar arrangements, issuances in joint ventures, strategic arrangements or
other non-financing type transactions, issuances in debt financings as equity kickers, issuances in public offerings and similar transactions.
In addition, no anti-dilution adjustment will be made with respect to issuances of common stock pursuant to our $150 million
equity facility with Chardan Capital Markets LLC (or replacement thereof) sold at a per share price above $5.00. The shares issued
and issuable upon exercise of the Penny Warrants have customary registration rights requiring us to file and keep effective a resale
registration statement registering the resale of the shares of common stock underlying the Penny Warrants.
As
of November 9, 2023, Penny Warrants to purchase up to 597,834 shares of our common stock were issued and outstanding.
Investor
Warrants
On
June 22, 2023, we issued warrants to purchase 11,405,000
shares of our common stock at an exercise price of $2.00 per share (the “Investor Warrants”) in an underwritten public
offering (the “June 2023 Offering”). The Investor Warrants expire on June 22, 2028 and were immediately exercisable
upon issuable. In the event of certain fundamental transactions, holders of the Investor Warrants will have the right to receive
the Black Scholes Value (as defined in the Investor Warrants) of their Investor Warrants calculated pursuant to the formula set forth
in the Investor Warrants, payable either in cash or in the same type or form of consideration that is being offered and being paid to
the holders of common stock.
As of November 9, 2023, Investor Warrants to purchase up to 11,131,900 shares of our common stock were issued and
outstanding.
Underwriters’ Warrants
The
570,250 underwriters’ warrants issued in connection with our June 2023 Offering (the “Underwriters’ Warrants”)
were exercisable upon issuance and will expire on June 20, 2028. The initial exercise price of the Underwriters’ Warrants is $2.50
per share. The Underwriters’ Warrants have substantially the same rights as the Investor Warrants. As of November 9, 2023, Underwriters’
Warrants to purchase up to 570,250 shares of our common stock were issued and outstanding.
Dividends
We
have not paid any cash dividends on our shares of common stock to date. The payment of cash dividends in the future will be dependent upon our revenues and earnings, if any, capital
requirements and general financial condition. The payment of any dividends will be within the discretion of our then board of directors.
It is the present intention of our board of directors to retain all earnings, if any, for use in our business operations and, accordingly,
our board does not anticipate declaring any dividends in the foreseeable future.
Our
Transfer Agent and Warrant Agent
The
transfer agent for our shares of common stock and warrant agent for our Public Warrants is Equiniti Trust Company, LLC.
Preferred
Stock
Our
Articles of Incorporation authorizes a total of 5,000,000 shares of preferred stock, par value $0.0001 per share.
Under
the terms of our Articles of Incorporation, our board of directors is authorized to issue shares of preferred stock in one or more series
without stockholder approval. Our board of directors has the discretion to determine the terms, rights, preferences, privileges and restrictions,
including voting rights, dividend rights, conversion rights, redemption privileges and liquidation preferences, of each series of preferred
stock.
The
issuance of preferred stock, while providing flexibility in connection with possible acquisitions, future financings and other corporate
purposes, could have the effect of making it more difficult for a third party to acquire, or could discourage a third party from seeking
to acquire, a majority of our outstanding voting stock. We have no present plans to issue any shares of preferred stock.
Choice
of Forum Provisions
Our
Articles of Incorporation, in Article XI, includes a mandatory forum provision that, to the fullest extent permitted by law, and
unless we consent in writing, the Second Judicial District Court, in and for the State of Nevada, located in Washoe County, shall be
the sole and exclusive forum for (a) any derivative action or proceeding brought in the name or right of the Company or on our behalf,
(b) any action asserting a claim for breach of any fiduciary duty owed by any of our current or former directors, officers, employees
or stockholders to the Company or our stockholders, (c) any action arising or asserting a claim arising pursuant to any provision of
NRS Chapters 78 or 92A or any provision of the Articles of Incorporation or Bylaws, (d) any action to interpret, apply, enforce
or determine the validity of the Articles of Incorporation or Bylaws or (e) any action asserting a claim governed by the internal affairs doctrine.
These
provisions would not apply to suits brought to enforce a duty or liability created by the Exchange Act, or any other claim for which
the federal courts have exclusive jurisdiction. Any person or entity purchasing or otherwise acquiring or holding any interest in our
securities shall be deemed to have notice of and consented to these provisions. Our exclusive forum provision will not relieve us of
our duties to comply with the federal securities laws and the rules and regulations thereunder, and our shareholders will not be deemed
to have waived our compliance with these laws, rules and regulations.
Anti-Takeover
Effects of the Articles of Incorporation, the Bylaws and Nevada Law
We
are a Nevada corporation and are generally governed by the NRS. The following is a brief description of the provisions in our Articles
of Incorporation, Bylaws and the NRS that could have an effect of delaying, deferring, or preventing a change in control of the
Company.
The
provisions of the NRS, our Articles of Incorporation, and Bylaws could have the effect of discouraging others from attempting
hostile takeovers and, as a consequence, they may also inhibit temporary fluctuations in the price of our common stock that
often result from actual or rumored hostile takeover attempts. These provisions may also have the effect of preventing changes in
our management. It is possible that these provisions could make it more difficult to accomplish transactions that stockholders may
otherwise deem to be in their best interests.
Combinations
with Interested Stockholders
The
“combinations with interested stockholders” provisions of Sections 78.411 to 78.444, inclusive, prohibit a Nevada corporation
with at least 200 stockholders of record from engaging in various business “combinations” with any person deemed to be an
“interested stockholder” for a period of two years after the date that the person first become an interested stockholder,
unless the business combination or the transaction by which the person first became an interested stockholder is approved by the corporation’s
board of directors before the person first became an interested stockholder, or the business combination is approved by the board of
directors and thereafter is approved at a meeting of the corporation’s stockholders by the affirmative vote of at least 60% of
the outstanding voting power of the corporation not beneficially owned by the interested stockholder, its affiliates, and associates.
Following
the expiration of the two-year period, the corporation is prohibited from engaging in business “combinations” with the interested
stockholder, unless: (i) the business combination or the transaction by which the person first became an interested stockholder is approved
by the corporation’s board of directors before the person first became an interested stockholder; (ii) the business combination
is approved by a majority of the outstanding voting power of the corporation held by disinterested stockholders; or (iii) the aggregate
amount of the consideration to be received in the business combination by all of the holders of outstanding common shares of the corporation
not beneficially owned by the interested stockholder is at least equal to the higher of: (a) the highest price per share paid by the
interested stockholder, at a time when the interested stockholder was the beneficial owner, directly or indirectly, of 5 percent or more
of the outstanding voting shares of the corporation, for any common shares of the same class or series acquired by the interested stockholder
within two years immediately before the date of announcement with respect to the combination or within two years immediately before,
or in, the transaction in which the person became an interested stockholder, whichever is higher, plus, in either case, interest compounded
annually from the earliest date on which the highest price per share was paid through the date of consummation at the rate for one-year
obligations of the United States Treasury in effect on that earliest date, less the aggregate amount of any dividends paid in cash and
the market value of any dividends paid other than in cash, per common share since that earliest date, and (b) the market value per common
share on the date of the announcement of the business combination or on the date that the person first became an interested stockholder,
whichever is higher, plus interest compounded annually from that date through the date of consummation at the rate for one-year obligations
of the United States Treasury in effect on that date, less the aggregate amount of any dividends paid in cash and the market value of
any dividends paid other than in cash, per common share since that date.
In
general, an “interested stockholder” is any person who is (i) the direct or indirect beneficial owner of 10% or more of the
voting power of the outstanding voting shares of the corporation, or (ii) an affiliate or associate of the corporation and at any time
within two years immediately before the date in question was the direct or indirect beneficial owner of 10% or more of the voting power
of the then outstanding shares of the corporation.
Companies
are entitled to opt out of the business combination provisions of the NRS. In our Articles of Incorporation, we have not opted out of
the business combination provisions of NRS 78.411 to 78.444, inclusive.
Acquisition
of Controlling Interests
Nevada
law also protects the corporation and its stockholders from persons acquiring a “controlling interest” in a corporation.
The provisions can be found in NRS 78.378 to 78.3793, inclusive.
The
restriction on acquisition of a controlling interest applies to corporations which have 200 or more stockholders of record (at least
100 of whom have had addresses in Nevada at all times during the 90 days immediately preceding the date of the acquisition) and conducts
business in Nevada, unless the charter or bylaws of the corporation in effect on the tenth day after the acquisition of a controlling
interest provide otherwise. NRS 78.3785 provides that a “controlling interest” means the ownership of outstanding voting
shares of an issuing corporation sufficient to enable the acquiring person, individually or in association with others, directly or indirectly,
to exercise (i) one fifth or more but less than one third, (ii) one third or more but less than a majority, or (iii) a majority or more
of the voting power of the issuing corporation in the election of directors. Once an acquirer crosses one of these thresholds by acquiring
a controlling interest in the corporation, the shares which the acquirer acquired in the transaction taking it over the threshold and
within the 90 days immediately preceding the date when the acquiring person acquired or offered to acquire a controlling interest in
the corporation become “control shares.” Pursuant to NRS 78.379, any person who acquires a controlling interest in a corporation
may not exercise voting rights on any control shares unless such voting rights are conferred by a majority vote of the disinterested
stockholders of the issuing corporation at an annual meeting or a special meeting of such stockholders held upon the request and at the
expense of the acquiring person, or, if the acquisition would adversely alter or change any preference or any relative or other right
given to any other class or series of outstanding shares, the holders of a majority of each class or series affected. In the event that
the control shares are accorded full voting rights and the acquiring person acquires control shares with a majority or more of all the
voting power, any stockholder, other than the acquiring person, who does not vote in favor of authorizing voting rights for the control
shares is entitled to demand payment for the fair value of such person’s shares, and, provided that the proper procedure is adhered
to, the corporation must comply with the demand.
NRS
78.378(1) provides that the control share statutes of the NRS do not apply to any acquisition of a controlling interest in an issuing
corporation if the charter or bylaws of the corporation in effect on the 10th day following the acquisition of a controlling interest
by the acquiring person provide that the provisions of those sections do not apply to the corporation or to an acquisition of a controlling
interest specifically by types of existing or future stockholders, whether or not identified. NRS 78.378(2) provides that the corporation
may impose stricter requirements if it so desires. We have not opted out of the control share statutes, and will be subject to these
statutes if we are an “issuing corporation” as defined in such statutes.
The
effect of the Nevada control share statutes is that the acquiring person, and those acting in association with the acquiring person,
will obtain only such voting rights in the control shares as are conferred by a resolution of the stockholders at an annual or special
meeting. The Nevada control share law, if applicable, could have the effect of discouraging takeovers of our Company.
Authorized
Shares
Section
78.207 of the NRS provides that without any action by our shareholders, we may increase or decrease the number of authorized shares in
a class or series of our shares and correspondingly effect a forward or reverse split of any class or series of the our shares (and change
the par value thereof), so long as the action taken does not adversely change or alter any right or preference of our shareholders and
does not include any provision or provisions pursuant to which only money will be paid or scrip issued to stockholders who hold 10% or
more of the outstanding shares of the affected class and series, and who would otherwise be entitled to receive fractions of shares in
exchange for the cancellation of all of their outstanding shares. Common stock and Series A Preferred Stock have been established, and
our board has authority to establish more than one series of preferred stock, and the different series shall have such relative rights
and preferences, with such designations, as our board may by resolution provide. Issuance of such a new series could, depending upon
the terms of the series, delay, defer, or prevent a change of control of our Company.
Stockholder
Action by Written Consent
Pursuant
to Section 78.320 of the NRS, any action required to be taken at any annual or special meeting of the stockholders may be taken without
a meeting, without prior notice and without a vote if a consent or consents in writing, setting forth the action so taken, is signed
by the holders of outstanding stock having not less than the minimum number of votes that would be necessary to authorize or take such
action at a meeting at which all shares of our stock entitled to vote thereon were present and voted, unless the charter provides otherwise.
Our Articles of Incorporation preclude stockholder action by written consent.
Number
of Directors; Vacancies; Removal
Our
Bylaws provide that our board may fix the number of directors at no less than one. Any vacancy on our board may be filled by the affirmative
vote of a majority of the remaining directors though less than a quorum of our board. A director elected to fill a vacancy shall be elected
for the unexpired term of his predecessor in office, and shall hold such office until his successor is duly elected and qualified. Any
directorship to be filled by reason of an increase in the number of directors shall be filled by the affirmative vote of a majority of
the directors then in office, even if less than a quorum. A director chosen to fill a position resulting from an increase in the number
of directors shall hold office for a term that coincides with the remaining term of that class of director.
The
NRS requires the vote of the holders of at least two-thirds of the shares or class or series of shares of the issued and outstanding
stock entitled to vote at an election of directors in order to remove a director or all of the directors. Furthermore, the NRS does not
make a distinction between removals for cause and removals without cause. The articles of incorporation may provide for a higher voting
threshold but not a lower one.
Our
Bylaws provide that any director or directors of the corporation, except those elected by the holders of any series or class of preferred
stock provided for or fixed pursuant to the provisions of Article V of the Articles of Incorporation, may be removed from office at any
time, but only for cause, by the vote or written consent of stockholders representing not less than 66 2/3% of the voting power of all
of the then outstanding shares of stock entitled to vote in the election of directors, voting together as a single class.
Advance
Notice Requirements for Stockholder Proposals and Director Nominations
Our
Bylaws contain advance notice provisions that a stockholder must follow if it intends to bring business proposals or director nominations,
as applicable, before a meeting of stockholders. These provisions may preclude our stockholders from bringing matters before the annual
meeting of stockholders or from making nominations at the annual meeting of stockholders.
Approval
for Amendment of Articles of Incorporation and Bylaws
Our
Articles of Incorporation further provides that the affirmative vote of holders of at least 66 2∕3% of the voting power of all
of the then outstanding shares of stock entitled to vote in the election of directors, voting as a single class, is required to amend
or repeal certain provisions of our Articles of Incorporation, including provisions relating to the size of the board, removal of directors,
special meetings and actions by written consent. The affirmative vote of holders of at least 66 2/3% of the voting power of all of the
then outstanding shares of stock entitled to vote in the election of directors, voting as a single class, is required to adopt, amend,
alter or repeal our Bylaws, although our Bylaws may be adopted, amended, altered or repealed by a majority vote of the board of directors,
assuming no vacancies.
Stock
Exchange Listing
Our
common stock is currently listed on Nasdaq under the symbol “DFLI” and our Public Warrants are currently listed on
the Nasdaq Capital Market under the symbol “DFLIW”.
DESCRIPTION
OF DEBT SECURITIES
This
prospectus describes certain general terms and provisions of debt securities that we may offer. The debt securities may be issued pursuant
to, in the case of senior debt securities, a senior indenture, and in the case of subordinated debt securities, a subordinated indenture,
in each case in the forms filed as exhibits to this registration statement, which we refer to as the “indentures.” The indentures
will be entered into between us and a trustee to be named prior to the issuance of any debt securities, which we refer to as the “trustee.”
The indentures will not limit the amount of debt securities that can be issued thereunder and will provide that the debt securities may
be issued from time to time in one or more series pursuant to the terms of one or more securities resolutions or supplemental indentures
creating such series.
We
have summarized below the material provisions of the indentures and the debt securities or indicated which material provisions will be
described in the related prospectus supplement for any offering of debt securities. These descriptions are only summaries, and you should
refer to the relevant indenture for the particular offering of debt securities itself which will describe completely the terms and definitions
of the offered debt securities and contain additional information about the debt securities.
Terms
When
we offer to sell a particular series of debt securities, we will describe the specific terms of the securities in a prospectus supplement.
The prospectus supplement will set forth the following terms, as applicable, of the debt securities offered thereby:
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the
designation, aggregate principal amount, currency or composite currency and denominations; |
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the
price at which such debt securities will be issued and, if an index formula or other method is used, the method for determining amounts
of principal or interest; |
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the
maturity date and other dates, if any, on which principal will be payable; |
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whether
or not the debt securities will be secured or unsecured, and the terms of any secured debt; |
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whether
the debt securities rank as senior debt, senior subordinated debt, subordinated debt or any combination thereof, and the terms of
any subordination; |
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the
interest rate (which may be fixed or variable), if any; |
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the
date or dates from which interest will accrue and on which interest will be payable, and the record dates for the payment of interest; |
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the
manner of paying principal and interest; |
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the
place or places where principal and interest will be payable; |
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the
terms of any mandatory or optional redemption by us or any third party including any sinking fund; |
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the
terms of any conversion or exchange; |
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the
terms of any redemption at the option of holders or put by the holders; |
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any
tax indemnity provisions; |
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if
the debt securities provide that payments of principal or interest may be made in a currency other than that in which the debt securities
are denominated, the manner for determining such payments; |
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the
portion of principal payable upon acceleration of a Discounted Debt Security (as defined below); |
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whether
and upon what terms debt securities may be defeased; |
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any
events of default or covenants in addition to or in lieu of those set forth in the indentures; |
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provisions
for electronic issuance of debt securities or for the issuance of debt securities in uncertificated form; and |
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any
additional provisions or other special terms not inconsistent with the provisions of the indentures, including any terms that may
be required or advisable under United States or other applicable laws or regulations, or advisable in connection with the marketing
of the debt securities. |
Debt
securities of any series may be issued as registered debt securities or uncertificated debt securities, in such denominations as specified
in the terms of the series.
Securities
may be issued under the indentures as Discounted Debt Securities to be offered and sold at a substantial discount from the principal
amount thereof. Special United States federal income tax and other considerations applicable thereto will be described in the prospectus
supplement relating to such Discounted Debt Securities. “Discounted Debt Security” means a security where the amount of principal
due upon acceleration is less than the stated principal amount.
We
are not obligated to issue all debt securities of one series at the same time and, unless otherwise provided in the prospectus supplement,
we may reopen a series, without the consent of the holders of the debt securities of that series, for the issuance of additional debt
securities of that series. Additional debt securities of a particular series will have the same terms and conditions as outstanding debt
securities of such series, except for the date of original issuance and the offering price, and will be consolidated with, and form a
single series with, such outstanding debt securities.
Ranking
The
senior debt securities will rank equally with all of our other senior and unsubordinated debt. Our secured debt, if any, will be effectively
senior to the senior debt securities to the extent of the value of the assets securing such debt. The subordinated debt securities will
be subordinate and junior in right of payment to all of our present and future senior indebtedness to the extent and in the manner described
in the prospectus supplement and as set forth in the board resolution, officer’s certificate or supplemental indenture relating
to such offering.
We
have only a stockholder’s claim on the assets of our subsidiaries. This stockholder’s claim is junior to the claims that
creditors of our subsidiaries have against our subsidiaries. Holders of our debt securities will be our creditors and not creditors of
any of our subsidiaries. As a result, all the existing and future liabilities of our subsidiaries, including any claims of their creditors,
will effectively be senior to the debt securities with respect to the assets of our subsidiaries. In addition, to the extent that we
issue any secured debt, the debt securities will be effectively subordinated to such secured debt to the extent of the value of the assets
securing such secured debt.
The
debt securities will be obligations exclusively of Dragonfly Energy Holdings Corp. To the extent that our ability to service our debt,
including the debt securities, may be dependent upon the earnings of our future subsidiaries, if any, our ability to do so will be dependent
on the ability of our subsidiaries to distribute those earnings to us as dividends, loans or other payments.
Certain
Covenants
Any
covenants that may apply to a particular series of debt securities will be described in the prospectus supplement relating thereto.
Successor
Obligor
The
indentures provide that, unless otherwise specified in the securities resolution or supplemental indenture establishing a series of debt
securities, we shall not consolidate with or merge into, or transfer all or substantially all of our assets to, any person in any transaction
in which we are not the survivor, unless:
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the
person is organized under the laws of the United States or a jurisdiction within the United States; |
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the
person assumes by supplemental indenture all of our obligations under the relevant indenture, the debt securities and any coupons; |
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immediately
after the transaction no Default (as defined below) exists; and |
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we
deliver to the trustee an officers’ certificate and opinion of counsel stating that the transaction complies with the foregoing
requirements and that all conditions precedent provided for in the indenture relating to the transaction have been complied with. |
In
such event, the successor will be substituted for us, and thereafter all of our obligations under the relevant indenture, the debt securities
and any coupons will terminate.
The
indentures provide that these limitations shall not apply if our board of directors makes a good faith determination that the principal
purpose of the transaction is to change our state of incorporation.
Exchange
of Debt Securities
Registered
debt securities may be exchanged for an equal aggregate principal amount of registered debt securities of the same series and date of
maturity in such authorized denominations as may be requested upon surrender of the registered debt securities at an agency of the Company
maintained for such purpose and upon fulfillment of all other requirements of such agent.
Default
and Remedies
Unless
the securities resolution or supplemental indenture establishing the series otherwise provides (in which event the prospectus supplement
will so state), an “Event of Default” with respect to a series of debt securities will occur if:
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we
default in any payment of interest on any debt securities of such series when the same becomes due and payable and the default continues
for a period of 30 days; |
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we
default in the payment of all or any part of the principal and premium, if any, of any debt securities of such series when the same
becomes due and payable at maturity or upon redemption, acceleration or otherwise and such default shall continue for five or more
days; |
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we
default in the performance of any of our other agreements applicable to the series and the default continues for 30 days after the
notice specified below; |
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a
court of competent jurisdiction enters an order or decree under any Bankruptcy Law (as defined below) that: |
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for relief against us in an involuntary case, |
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appoints
a Custodian (as defined below) for us or for any substantial part of our property, or |
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orders
the winding up or liquidation of us, and the order or decree remains unstayed and in effect for 90 consecutive days; |
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we,
pursuant to or within the meaning of any Bankruptcy Law: |
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commence
a voluntary case, |
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consent
to the entry of an order for relief against us in an involuntary case, |
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consent
to the appointment of a Custodian for us or for any substantial part of our property, or |
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make
a general assignment for the benefit of our creditors; or |
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there
occurs any other Event of Default provided for in such series. |
The
term “Bankruptcy Law” means Title 11 of the United States Code or any similar Federal or State law for the relief of debtors.
The term “Custodian” means any receiver, trustee, assignee, liquidator or a similar official under any Bankruptcy Law.
“Default”
means any event which is, or after notice or passage of time would be, an Event of Default. A Default under subparagraph (3) above is
not an Event of Default until the trustee or the holders of at least 25% in principal amount of the series notify us of the Default and
we do not cure the Default within the time specified after receipt of the notice.
The
trustee may require indemnity satisfactory to it before it enforces the indentures or the debt securities of the series. Subject to certain
limitations, holders of a majority in principal amount of the debt securities of the series may direct the trustee in its exercise of
any trust or power with respect to such series. Except in the case of Default in payment on a series, the trustee may withhold from securityholders
of such series notice of any continuing Default if the trustee determines that withholding notice is in the interest of such securityholders.
We are required to furnish the trustee annually a brief certificate as to our compliance with all conditions and covenants under the
indentures.
The
indentures do not have cross-default provisions. Thus, a default by us on any other debt, including any other series of debt securities,
would not constitute an Event of Default.
Amendments
and Waivers
The
indentures and the debt securities or any coupons of the series may be amended, and any Default may be waived as follows:
Unless
the securities resolution or supplemental indenture otherwise provides (in which event the applicable prospectus supplement will so state),
the debt securities and the indentures may be amended with the consent of the holders of a majority in principal amount of the debt securities
of all series affected voting as one class. Unless the securities resolution or supplemental indenture otherwise provides (in which event
the applicable prospectus supplement will so state), a Default other than a Default in payment on a particular series may be waived with
the consent of the holders of a majority in principal amount of the debt securities of the series. However, without the consent of each
securityholder affected, no amendment or waiver may:
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change
the fixed maturity of or the time for payment of interest on any debt security; |
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reduce
the principal, premium or interest payable with respect to any debt security; |
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change
the place of payment of a debt security or the currency in which the principal or interest on a debt security is payable; |
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change
the provisions for calculating any redemption or repurchase price with respect to any debt security; |
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adversely
affect any holder’s right to receive payment of principal and interest or to institute suit for the enforcement of any such
payment; |
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reduce
the amount of debt securities whose holders must consent to an amendment or waiver; |
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make
any change that materially adversely affects the right to convert any debt security; |
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waive
any Default in payment of principal of or interest on a debt security; or |
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adversely
affect any holder’s rights with respect to redemption or repurchase of a debt security. |
Without
the consent of any securityholder, the indentures or the debt securities may be amended to:
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provide
for assumption of our obligations to securityholders in the event of a merger or consolidation requiring such assumption; |
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cure
any ambiguity, omission, defect or inconsistency; |
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conform
the terms of the debt securities to the description thereof in the prospectus and prospectus supplement offering such debt securities; |
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create
a series and establish its terms; |
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provide
for the acceptance of appointment by a successor trustee or to facilitate the administration of the trusts by more than one trustee; |
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provide
for uncertificated or unregistered securities; |
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make
any change that does not adversely affect the rights of any securityholder; |
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add
to our covenants; or |
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make
any other change to the indentures so long as no debt securities are outstanding. |
Conversion
Rights
Any
securities resolution or supplemental indenture establishing a series of debt securities may provide that the debt securities of such
series will be convertible at the option of the holders thereof into or for our common stock or other equity or debt instruments.
The securities resolution or supplemental indenture may establish, among other things, (1) the number or amount of shares of common stock or other equity or debt instruments for which $1,000 aggregate principal amount of the debt securities of the series is convertible,
as may be adjusted pursuant to the terms of the relevant indenture and the securities resolution; and (2) provisions for adjustments
to the conversion rate and limitations upon exercise of the conversion right. The indentures provide that we will not be required to
make an adjustment in the conversion rate unless the adjustment would require a cumulative change of at least 1% in the conversion rate.
However, we will carry forward any adjustments that are less than 1% of the conversion rate and take them into account in any subsequent
adjustment of the conversion rate.
Legal
Defeasance and Covenant Defeasance
Debt
securities of a series may be defeased in accordance with their terms and, unless the securities resolution or supplemental indenture
establishing the terms of the series otherwise provides, as set forth below. We at any time may terminate as to a series all of our obligations
(except for certain obligations, including obligations with respect to the defeasance trust and obligations to register the transfer
or exchange of a debt security, to replace destroyed, lost or stolen debt securities and coupons and to maintain paying agencies in respect
of the debt securities) with respect to the debt securities of the series and any related coupons and the relevant indenture, which we
refer to as legal defeasance. We at any time may terminate as to a series our obligations with respect to any restrictive covenants which
may be applicable to a particular series, which we refer to as covenant defeasance.
We
may exercise our legal defeasance option notwithstanding our prior exercise of our covenant defeasance option. If we exercise our legal
defeasance option, a series may not be accelerated because of an Event of Default. If we exercise our covenant defeasance option, a series
may not be accelerated by reference to any covenant which may be applicable to a series.
To
exercise either defeasance option as to a series, we must (1) irrevocably deposit in trust with the trustee (or another trustee) money
or U.S. Government Obligations (as defined below), deliver a certificate from a nationally recognized firm of independent accountants
expressing their opinion that the payments of principal and interest when due on the deposited U.S. Government Obligations, without reinvestment,
plus any deposited money without investment will provide cash at such times and in such amounts as will be sufficient to pay the principal
and interest when due on all debt securities of such series to maturity or redemption, as the case may be; and (2) comply with certain
other conditions. In particular, we must obtain an opinion of tax counsel that the defeasance will not result in recognition of any gain
or loss to holders for federal income tax purposes.
“U.S.
Government Obligations” means direct obligations of the United States or any agency or instrumentality of the United States, the
payment of which is unconditionally guaranteed by the United States, which, in either case, have the full faith and credit of the United
States pledged for payment and which are not callable at the issuer’s option, or certificates representing an ownership interest
in such obligations.
Regarding
the Trustee
Unless
otherwise indicated in a prospectus supplement, the trustee will also act as depository of funds, transfer agent, paying agent and conversion
agent, as applicable, with respect to the debt securities. In certain circumstances, we or the securityholders may remove the trustee
as the trustee under a given indenture. The indenture trustee may also provide additional unrelated services to us as a depository of
funds, registrar, trustee and similar services.
Governing
Law
The
indentures and the debt securities will be governed by New York law, except to the extent that the Trust Indenture Act of 1939 is applicable.
DESCRIPTION
OF STOCK WARRANTS
We
summarize below some of the provisions that will apply to the warrants unless the applicable prospectus supplement provides otherwise.
This summary may not contain all information that is important to you. The complete terms of the warrants will be contained in the applicable
warrant certificate and warrant agreement. These documents have been or will be included or incorporated by reference as exhibits to
the registration statement of which this prospectus is a part. You should read the warrant certificate and the warrant agreement. You
should also read the prospectus supplement, which will contain additional information and which may update or change some of the information
below.
General
We
may issue, together with common or preferred stock as units or separately, warrants for the purchase of shares of our common or preferred
stock. The terms of each warrant will be discussed in the applicable prospectus supplement relating to the particular series of warrants.
The form(s) of certificate representing the warrants and/or the warrant agreement will be, in each case, filed with the SEC as an exhibit
to a document incorporated by reference in the registration statement of which this prospectus is a part on or prior to the date of any
prospectus supplement relating to an offering of the particular warrant. The following summary of material provisions of the warrants
and the warrant agreements are subject to, and qualified in their entirety by reference to, all the provisions of the warrant agreement
and warrant certificate applicable to a particular series of warrants.
The
prospectus supplement relating to any series of warrants that are offered by this prospectus will describe, among other things, the following
terms to the extent they are applicable to that series of warrants:
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the
procedures and conditions relating to the exercise of the warrants; |
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the
number of shares of our common or preferred stock, if any, issued with the warrants; |
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the
date, if any, on and after which the warrants and any related shares of our common or preferred stock will be separately transferable; |
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the
offering price of the warrants, if any; |
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the
number of shares of our common or preferred stock which may be purchased upon exercise of the warrants and the price or prices at
which the shares may be purchased upon exercise; |
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the
date on which the right to exercise the warrants will begin and the date on which the right will expire; |
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a
discussion of the material United States federal income tax considerations applicable to the exercise of the warrants; |
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anti-dilution
provisions of the warrants, if any; |
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call
provisions of the warrants, if any; and |
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any
other material terms of the warrants. |
Each
warrant may entitle the holder to purchase for cash, or, in limited circumstances, by effecting a cashless exercise for, the number of
shares of our common or preferred stock at the exercise price that is described in the applicable prospectus supplement. Warrants will
be exercisable during the period of time described in the applicable prospectus supplement. After that period, unexercised warrants will
be void. Warrants may be exercised in the manner described in the applicable prospectus supplement.
A
holder of a warrant will not have any of the rights of a holder of our common or preferred stock before the stock is purchased upon exercise
of the warrant. Therefore, before a warrant is exercised, the holder of the warrant will not be entitled to receive any dividend payments
or exercise any voting or other rights associated with shares of our common or preferred stock which may be purchased when the warrant
is exercised.
Transfer
Agent and Registrar
The
transfer agent and registrar, if any, for any warrants will be set forth in the applicable prospectus supplement.
DESCRIPTION
OF SUBSCRIPTION RIGHTS
We
may issue subscription rights to purchase our equity securities or debt securities. These subscription rights may be offered independently
or together with any other security offered hereby and may or may not be transferable by the stockholder receiving the subscription rights
in such offering. In connection with any offering of subscription rights, we may enter into a standby arrangement with one or more underwriters
or other purchasers pursuant to which the underwriters or other purchasers may be required to purchase any securities remaining unsubscribed
for after such offering.
The
prospectus supplement relating to any subscription rights we offer, if any, will, to the extent applicable, include specific terms relating
to the offering, including some or all of the following:
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the
price, if any, for the subscription rights; |
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the
exercise price payable for our equity securities or debt securities upon the exercise of the subscription rights; |
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the
number of subscription rights to be issued to each stockholder; |
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the
number and terms of our equity securities and debt securities which may be purchased per each subscription right; |
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the
extent to which the subscription rights are transferable; |
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any
other terms of the subscription rights, including the terms, procedures and limitations relating to the exchange and exercise of
the subscription rights; |
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the
date on which the right to exercise the subscription rights shall commence, and the date on which the subscription rights shall expire; |
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the
extent to which the subscription rights may include an over-subscription privilege with respect to unsubscribed securities or an
over-allotment privilege to the extent the securities are fully subscribed; and |
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if
applicable, the material terms of any standby underwriting or purchase arrangement which may be entered into by us in connection
with the offering of subscription rights. |
DESCRIPTION
OF UNITS
We
may issue units comprised of one or more of the other securities described in this prospectus in any combination. Each unit will be issued
so that the holder of the unit is also the holder of each security included in the unit. Thus, the holder of a unit will have the rights
and obligations of a holder of each included security (but, to the extent convertible securities are included in the units, the holder
of the units will be deemed the holder of the convertible securities and not the holder of the underlying securities). The unit agreement
under which a unit is issued, if any, may provide that the securities included in the unit may not be held or transferred separately,
at any time or at any time before a specified date. The applicable prospectus supplement may describe:
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designation and terms of the units and of the securities comprising the units, including whether and under what circumstances those
securities may be held or transferred separately; |
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any
provisions for the issuance, payment, settlement, transfer or exchange of the units or of the securities comprising the units; |
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the
terms of the unit agreement governing the units; |
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United
States federal income tax considerations relevant to the units; and |
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whether
the units will be issued in fully registered global form. |
This
summary of certain general terms of units and any summary description of units in the applicable prospectus supplement do not purport
to be complete and are qualified in their entirety by reference to all provisions of the applicable unit agreement and, if applicable,
collateral arrangements and depositary arrangements relating to such units. The forms of the unit agreements and other documents relating
to a particular issue of units will be filed with the SEC each time we issue units, and you should read those documents for provisions
that may be important to you.
FORMS
OF SECURITIES
Each
debt security, and to the extent applicable, warrant, subscription right and unit, will be represented either by a certificate issued
in definitive form to a particular investor or by one or more global securities representing the entire issuance of securities. Certificated
securities in definitive form and global securities will be issued in registered form. Definitive securities name you or your nominee
as the owner of the security, and in order to transfer or exchange these securities or to receive payments other than interest or other
interim payments, you or your nominee must physically deliver the securities to the trustee, registrar, paying agent or other agent,
as applicable. Global securities name a depositary or its nominee as the owner of the debt securities or warrants represented by these
global securities. The depositary maintains a computerized system that will reflect each investor’s beneficial ownership of the
securities through an account maintained by the investor with its broker/dealer, bank, trust company or other representative, as we explain
more fully below.
Global
Securities
Registered
Global Securities. We may issue the registered debt securities and, to the extent applicable, warrants, subscription rights and units,
in the form of one or more fully registered global securities that will be deposited with a depositary or its nominee identified in the
applicable prospectus supplement and registered in the name of that depositary or nominee. In those cases, one or more registered global
securities will be issued in a denomination or aggregate denominations equal to the portion of the aggregate principal or face amount
of the securities to be represented by registered global securities. Unless and until it is exchanged in whole for securities in definitive
registered form, a registered global security may not be transferred except as a whole by and among the depositary for the registered
global security, the nominees of the depositary or any successors of the depositary or those nominees.
If
not described below, any specific terms of the depositary arrangement with respect to any securities to be represented by a registered
global security will be described in the prospectus supplement relating to those securities. We anticipate that the following provisions
will apply to all depositary arrangements.
Ownership
of beneficial interests in a registered global security will be limited to persons, called participants, that have accounts with the
depositary or persons that may hold interests through participants. Upon the issuance of a registered global security, the depositary
will credit, on its book-entry registration and transfer system, the participants’ accounts with the respective principal or face
amounts of the securities beneficially owned by the participants. Any dealers, underwriters or agents participating in the distribution
of the securities will designate the accounts to be credited. Ownership of beneficial interests in a registered global security will
be shown on, and the transfer of ownership interests will be effected only through, records maintained by the depositary, with respect
to interests of participants, and on the records of participants, with respect to interests of persons holding through participants.
The laws of some states may require that some purchasers of securities take physical delivery of these securities in definitive form.
These laws may impair your ability to own, transfer or pledge beneficial interests in registered global securities.
So
long as the depositary, or its nominee, is the registered owner of a registered global security, that depositary or its nominee, as the
case may be, will be considered the sole owner or holder of the securities represented by the registered global security for all purposes
under the applicable indenture or warrant agreement. Except as described below, owners of beneficial interests in a registered global
security will not be entitled to have the securities represented by the registered global security registered in their names, will not
receive or be entitled to receive physical delivery of the securities in definitive form and will not be considered the owners or holders
of the securities under the applicable indenture or warrant agreement. Accordingly, each person owning a beneficial interest in a registered
global security must rely on the procedures of the depositary for that registered global security and, if that person is not a participant,
on the procedures of the participant through which the person owns its interest, to exercise any rights of a holder under the applicable
indenture or warrant agreement. We understand that under existing industry practices, if we request any action of holders or if an owner
of a beneficial interest in a registered global security desires to give or take any action that a holder is entitled to give or take
under the applicable indenture or warrant agreement, the depositary for the registered global security would authorize the participants
holding the relevant beneficial interests to give or take that action, and the participants would authorize beneficial owners owning
through them to give or take that action or would otherwise act upon the instructions of beneficial owners holding through them.
Principal,
premium, if any, interest payments on debt securities and any payments to holders with respect to warrants represented by a registered
global security registered in the name of a depositary or its nominee will be made to the depositary or its nominee, as the case may
be, as the registered owner of the registered global security. None of the Company, the trustees, the warrant agents or any other agent
of the Company, the trustees or the warrant agents will have any responsibility or liability for any aspect of the records relating to
payments made on account of beneficial ownership interests in the registered global security or for maintaining, supervising or reviewing
any records relating to those beneficial ownership interests.
We
expect that the depositary for any of the securities represented by a registered global security, upon receipt of any payment of principal,
premium, interest or other distribution of underlying securities or other property to holders on that registered global security, will
immediately credit participants’ accounts in amounts proportionate to their respective beneficial interests in that registered
global security as shown on the records of the depositary. We also expect that payments by participants to owners of beneficial interests
in a registered global security held through participants will be governed by standing customer instructions and customary practices,
as is now the case with the securities held for the accounts of customers in bearer form or registered in “street name,”
and will be the responsibility of those participants.
If
the depositary for any of these securities represented by a registered global security is at any time unwilling or unable to continue
as depositary or ceases to be a clearing agency registered under the Securities Exchange Act of 1934, as amended, or the Exchange Act,
and a successor depositary registered as a clearing agency under the Exchange Act is not appointed by us within 90 days, we will issue
securities in definitive form in exchange for the registered global security that had been held by the depositary. Any securities issued
in definitive form in exchange for a registered global security will be registered in the name or names that the depositary gives to
the relevant trustee or warrant agent or other relevant agent of ours or theirs. It is expected that the depositary’s instructions
will be based upon directions received by the depositary from participants with respect to ownership of beneficial interests in the registered
global security that had been held by the depositary.
PLAN
OF DISTRIBUTION
Initial
Offering and Sale of Securities
Unless
otherwise set forth in a prospectus supplement accompanying this prospectus, we may sell the securities being offered hereby, from time
to time, by one or more of the following methods:
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or through underwriting syndicates represented by managing underwriters; |
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through
one or more underwriters without a syndicate for them to offer and sell to the public; |
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through
dealers or agents; and |
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to
investors directly in negotiated sales or in competitively bid transactions. |
Offerings
of securities covered by this prospectus also may be made into an existing trading market for those securities in transactions at other
than a fixed price, either:
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on
or through the facilities of Nasdaq or the Nasdaq Capital Market or any other securities exchange or quotation or trading service
on which those securities may be listed, quoted, or traded at the time of sale; and/or |
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to
or through a market maker other than on the securities exchanges or quotation or trading services set forth above. |
Those
at-the-market offerings, if any, will be conducted by underwriters acting as principal or agent of the Company, who may also be third-party
sellers of securities as described above. The prospectus supplement with respect to the offered securities will set forth the terms of
the offering of the offered securities, including:
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name or names of any underwriters, dealers or agents; |
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the
purchase price of the offered securities and the proceeds to us from such sale; |
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any
underwriting discounts and commissions or agency fees and other items constituting underwriters’ or agents’ compensation; |
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any
initial public offering price and any discounts or concessions allowed or reallowed or paid to dealers; |
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any
securities exchange on which such offered securities may be listed; and |
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any
underwriter, agent or dealer involved in the offer and sale of any series of the securities. |
The
distribution of the securities may be effected from time to time in one or more transactions:
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fixed prices, which may be changed; |
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market prices prevailing at the time of the sale; |
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at
varying prices determined at the time of sale; or |
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at
negotiated prices. |
Each
prospectus supplement will set forth the manner and terms of an offering of securities including:
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whether
that offering is being made to underwriters, through agents or directly to the public; |
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the
rules and procedures for any auction or bidding process, if used; |
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the
securities’ purchase price or initial public offering price; and |
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the
proceeds we anticipate from the sale of the securities, if any. |
In
addition, we may enter into derivative or hedging transactions with third parties, or sell securities not covered by this prospectus
to third parties in privately negotiated transactions. The applicable prospectus supplement may indicate, in connection with such a transaction,
that the third parties may sell securities covered by and pursuant to this prospectus and an applicable prospectus supplement. If so,
the third party may use securities pledged by us or borrowed from us or others to settle such sales and may use securities received from
us to close out any related short positions. We may also loan or pledge securities covered by this prospectus and an applicable prospectus
supplement to third parties, who may sell the loaned securities or, in an event of default in the case of a pledge, sell the pledged
securities pursuant to this prospectus and the applicable prospectus supplement.
Sales
Through Underwriters
If
underwriters are used in the sale of some or all of the securities covered by this prospectus, the underwriters will acquire the securities
for their own account. The underwriters may resell the securities, either directly to the public or to securities dealers, at various
times in one or more transactions, including negotiated transactions, at a fixed public offering price or at varying prices determined
at the time of sale. The obligations of the underwriters to purchase the securities will be subject to certain conditions. Unless indicated
otherwise in a prospectus supplement, the underwriters will be obligated to purchase all the securities of the series offered if any
of the securities are purchased.
Any
initial public offering price and any concessions allowed or reallowed to dealers may be changed intermittently.
Sales
Through Agents
Unless
otherwise indicated in the applicable prospectus supplement, when securities are sold through an agent, the designated agent will agree,
for the period of its appointment as agent, to use specified efforts to sell the securities for our account and will receive commissions
from us as will be set forth in the applicable prospectus supplement.
Securities
bought in accordance with a redemption or repayment under their terms also may be offered and sold, if so indicated in the applicable
prospectus supplement, in connection with a remarketing by one or more firms acting as principals for their own accounts or as agents
for us. Any remarketing firm will be identified and the terms of its agreement, if any, with us and its compensation will be described
in the prospectus supplement. Remarketing firms may be deemed to be underwriters in connection with the securities remarketed by them.
If
so indicated in the applicable prospectus supplement, we may authorize agents, underwriters or dealers to solicit offers by certain specified
institutions to purchase securities at a price set forth in the prospectus supplement pursuant to delayed delivery contracts providing
for payment and delivery on a future date specified in the prospectus supplement. These contracts will be subject only to those conditions
set forth in the applicable prospectus supplement, and the prospectus supplement will set forth the commissions payable for solicitation
of these contracts.
Direct
Sales
We
may also sell offered securities directly to institutional investors or others. In this case, no underwriters or agents would be involved.
The terms of such sales will be described in the applicable prospectus supplement.
General
Information
Broker-dealers,
agents or underwriters may receive compensation in the form of discounts, concessions or commissions from us and/or the purchasers of
securities for whom such broker-dealers, agents or underwriters may act as agents or to whom they sell as principal, or both. This compensation
to a particular broker-dealer might be in excess of customary commissions.
Underwriters,
dealers and agents that participate in any distribution of the offered securities may be deemed “underwriters” within the
meaning of the Securities Act of 1933, as amended, or the Securities Act, so any discounts or commissions they receive in connection
with the distribution may be deemed to be underwriting compensation. Those underwriters and agents may be entitled, under their agreements
with us, to indemnification by us against certain civil liabilities, including liabilities under the Securities Act, or to contribution
by us to payments that they may be required to make in respect of those civil liabilities. Certain of those underwriters or agents may
be customers of, engage in transactions with, or perform services for, us or our affiliates in the ordinary course of business. We will
identify any underwriters or agents, and describe their compensation, in a prospectus supplement. Any institutional investors or others
that purchase offered securities directly, and then resell the securities, may be deemed to be underwriters, and any discounts or commissions
received by them from us and any profit on the resale of the securities by them may be deemed to be underwriting discounts and commissions
under the Securities Act.
We
will file a supplement to this prospectus, if required, pursuant to Rule 424(b) under the Securities Act, if we enter into any material
arrangement with a broker, dealer, agent or underwriter for the sale of securities through a block trade, special offering, exchange
distribution or secondary distribution or a purchase by a broker or dealer. Such prospectus supplement will disclose:
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name of any participating broker, dealer, agent or underwriter; |
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the
number and type of securities involved; |
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the
price at which such securities were sold; |
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any
securities exchanges on which such securities may be listed; |
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the
commissions paid or discounts or concessions allowed to any such broker, dealer, agent or underwriter, where applicable; and |
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other
facts material to the transaction. |
In
order to facilitate the offering of certain securities under this prospectus or an applicable prospectus supplement, certain persons
participating in the offering of those securities may engage in transactions that stabilize, maintain or otherwise affect the price of
those securities during and after the offering of those securities. Specifically, if the applicable prospectus supplement permits, the
underwriters of those securities may over-allot or otherwise create a short position in those securities for their own account by selling
more of those securities than have been sold to them by us and may elect to cover any such short position by purchasing those securities
in the open market.
In
addition, the underwriters may stabilize or maintain the price of those securities by bidding for or purchasing those securities in the
open market and may impose penalty bids, under which selling concessions allowed to syndicate members or other broker-dealers participating
in the offering are reclaimed if securities previously distributed in the offering are repurchased in connection with stabilization transactions
or otherwise. The effect of these transactions may be to stabilize or maintain the market price of the securities at a level above that
which might otherwise prevail in the open market. The imposition of a penalty bid may also affect the price of securities to the extent
that it discourages resales of the securities. No representation is made as to the magnitude or effect of any such stabilization or other
transactions. Such transactions, if commenced, may be discontinued at any time.
In
order to comply with the securities laws of certain states, if applicable, the securities must be sold in such jurisdictions only through
registered or licensed brokers or dealers. In addition, in certain states the securities may not be sold unless they have been registered
or qualified for sale in the applicable state or an exemption from the registration or qualification requirement is available and is
complied with.
Rule
15c6-1 under the Exchange Act generally requires that trades in the secondary market settle in two business days, unless the parties
to any such trade expressly agree otherwise. Your prospectus supplement may provide that the original issue date for your securities
may be more than two scheduled business days after the trade date for your securities. Accordingly, in such a case, if you wish to trade
securities on any date prior to the second business day before the original issue date for your securities, you will be required, by
virtue of the fact that your securities initially are expected to settle in more than two scheduled business days after the trade date
for your securities, to make alternative settlement arrangements to prevent a failed settlement.
This
prospectus, any applicable prospectus supplement and any applicable pricing supplement in electronic format may be made available on
the Internet sites of, or through other online services maintained by, us and/or one or more of the agents and/or dealers participating
in an offering of securities, or by their affiliates. In those cases, prospective investors may be able to view offering terms online
and, depending upon the particular agent or dealer, prospective investors may be allowed to place orders online.
Other
than this prospectus, any applicable prospectus supplement and any applicable pricing supplement in electronic format, the information
on our website or the website of any agent or dealer, and any information contained in any other website maintained by any agent or dealer:
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is
not part of this prospectus, any applicable prospectus supplement or any applicable pricing supplement or the registration statement
of which they form a part; |
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has
not been approved or endorsed by us or by any agent or dealer in its capacity as an agent or dealer, except, in each case, with respect
to the respective website maintained by such entity; and |
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not be relied upon by investors. |
There
can be no assurance that we will sell all or any of the securities offered by this prospectus.
This
prospectus may also be used in connection with any issuance of common stock or preferred stock upon exercise of a warrant if such
issuance is not exempt from the registration requirements of the Securities Act.
In
addition, we may issue the securities as a dividend or distribution or in a subscription right’s offering to our existing securityholders.
In some cases, we or dealers acting with us or on our behalf may also purchase securities and reoffer them to the public by one or more
of the methods described above. This prospectus may be used in connection with any offering of our securities through any of these methods
or other methods described in the applicable prospectus supplement.
LEGAL
MATTERS
Unless
otherwise indicated in the applicable prospectus supplement, the validity of the securities offered hereby will be passed upon for us
by Parsons Behle & Latimer, Reno, Nevada and Lowenstein Sandler LLP, New York, New York. If the validity of the securities offered hereby in connection with offerings made
pursuant to this prospectus are passed upon by counsel for the underwriters, dealers or agents, if any, such counsel will be named in
the prospectus supplement relating to such offering.
EXPERTS
The
consolidated financial statements as of December 31, 2022 and 2021 and for each of the two years in the period ended December 31, 2022
included in this Prospectus and in the Registration Statement have been so included in reliance on the report of BDO USA, LLP (n/k/a BDO USA, P.C.),
an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting. The report
on the consolidated financial statements contains an explanatory paragraph regarding the Company’s ability to continue as a going
concern.
ADDITIONAL
INFORMATION
This
prospectus is part of a Registration Statement on Form S-3 that we have filed with the SEC relating to the shares of our securities being
offered hereby. This prospectus does not contain all of the information in the Registration Statement and its exhibits. The Registration
Statement, its exhibits and the documents incorporated by reference in this prospectus and their exhibits, all contain information that
is material to the offering of the securities hereby. Whenever a reference is made in this prospectus to any of our contracts or other
documents, the reference may not be complete. You should refer to the exhibits that are a part of the Registration Statement in order
to review a copy of the contract or documents. The Registration Statement and the exhibits are available at the SEC’s Public Reference
Room or through its website.
We
file annual, quarterly and current reports, proxy statements and other information with the SEC. The SEC maintains an Internet site at
http://www.sec.gov that contains reports, proxy and information statements, and other information regarding issuers, such as us, that
file electronically with the SEC. Additionally, you may access our filings with the SEC through our website at www.dragonflyenergy.com.
We have included our website address as an inactive textual reference only and our website and the information contained on, or that
can be accessed through, our website will not be deemed to be incorporated by reference in, and are not considered part of, this prospectus.
We
will provide you without charge, upon your oral or written request, with an electronic or paper copy of any or all reports, proxy statements
and other documents we file with the SEC, as well as any or all of the documents incorporated by reference in this prospectus (other
than exhibits to such documents unless such exhibits are specifically incorporated by reference into such documents). Requests for such
copies should be directed to:
Dragonfly
Energy Holdings Corp.
Attn:
Denis Phares, Chairman of the Board, President, Secretary,
Chief Executive Officer and Interim Chief Financial Officer
1190
Trademark Drive, #108
Reno,
Nevada 89521
Tel:
(775) 622-3488
You
should rely only on the information in this prospectus and the additional information described above and under the heading “Incorporation
of Certain Information by Reference” below. We have not authorized any other person to provide you with different information.
If anyone provides you with different or inconsistent information, you should not rely upon it. We are not making an offer to sell these
securities in any jurisdiction where such offer or sale is not permitted. You should assume that the information in this prospectus was
accurate on the date of the front cover of this prospectus only. Our business, financial condition, results of operations and prospects
may have changed since that date.
INCORPORATION
OF CERTAIN INFORMATION BY REFERENCE
The
SEC allows us to “incorporate by reference” information that we file with it into this prospectus, which means that we can
disclose important information to you by referring you to those documents. The information incorporated by reference is an important
part of this prospectus. The information incorporated by reference is considered to be a part of this prospectus, and information that
we file later with the SEC will automatically update and supersede information contained in this prospectus and any accompanying prospectus
supplement.
We
incorporate by reference the documents listed below that we have previously filed with the SEC:
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our
Annual Report on Form 10-K for the year ended December 31, 2022, as filed with the SEC on April
17, 2023, as amended on May
1, 2023; |
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our
Quarterly Reports on Form 10-Q for the quarters ended March 31, 2023, June 30, 2023 and September 30, 2023, as filed with the SEC on May
15, 2023, August
21, 2023 and November
14, 2023, respectively; |
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our
Current Reports on Form 8-K as filed with the SEC on March
2, 2023, March
9, 2023, March
10, 2023, March
29, 2023, March
31, 2023, May
1, 2023 and June
21, 2023; |
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the
description of our common stock and Warrants contained in our Registration Statement on Form
8-A filed with the SEC on August 10, 2021 under Section 12 of the Exchange Act, including any amendments and reports filed for
the purpose of updating such description, including the description of our common stock included as Exhibit
4.7 to our Annual Report on Form 10-K for the year ended December 31, 2022, filed with the SEC on April 17, 2023. |
All
reports and other documents that we file with the SEC under Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act after the date of
the initial registration statement and prior to effectiveness of the registration statement, and after the date of this prospectus but
before the termination of the offering of the securities hereunder will also be considered to be incorporated by reference into this
prospectus from the date of the filing of these reports and documents, and will supersede the information herein; provided, however,
that all reports, exhibits and other information that we “furnish” to the SEC will not be considered incorporated by reference
into this prospectus. We undertake to provide without charge to each person (including any beneficial owner) who receives a copy of this
prospectus, upon written or oral request, a copy of all of the preceding documents that are incorporated by reference (other than exhibits,
unless the exhibits are specifically incorporated by reference into these documents). You may request a copy of these materials in the
manner set forth under the heading “Additional Information,” above.
$150,000,000
Common
Stock
Preferred
Stock
Warrants
Debt
Securities
Subscription
Rights
Units
PROSPECTUS
November 24, 2023
Dragonfly Energy (NASDAQ:DFLI)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024
Dragonfly Energy (NASDAQ:DFLI)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024