Dragonfly Energy Announces Strategic Acquisition of Dakota Lithium Assets, Expanding Into New Markets

Dragonfly Energy completed the acquisition of Dakota Lithium's operating assets for $4 million ($1M cash, $3M stock) to expand into marine, outdoor recreation, and specialty battery markets. Dakota Lithium generated ~$12M in 2026 revenue but faced inventory constraints. The acquisition is expected to be accretive to Adjusted EBITDA by Q4 2026. Concurrent lender amendments provide additional financial flexibility by reducing cash covenant requirements and deferring interest payments.