SCHEDULE 13G: Investment Group Discloses 9.9% Stake in Dragonfly Energy Holdings Corp.

A group of investment entities and individuals, including ATW Master Fund V L.P. and its affiliates, have disclosed a collective beneficial ownership of 9.9% in Dragonfly Energy Holdings Corp.

Summary

• ATW Master Fund V L.P., JAK Opportunities XVII LLC, ATW Partners Opportunities Management, LLC, Kerry Propper, and Antonio Ruiz-Gimenez have filed a Schedule 13G, reporting beneficial ownership in Dragonfly Energy Holdings Corp. (NASDAQ: DFEN).
• The group collectively holds 1,158,160 shares of Dragonfly Energy Holdings Corp. common stock, representing 9.9% of the company's outstanding shares.
• Kerry Propper individually holds 1,170,383 shares, also representing 9.9%, which includes 12,223 shares with sole voting and dispositive power, in addition to the shared holdings.
• The reported ownership includes shares held directly by JAK Opportunities XVII LLC (607,436 Shares), shares held directly by Kerry Propper, and the approximate amount of shares the Holding Company can acquire through the exercise of warrants and preferred shares.
• All beneficial ownership is subject to a 'Blocker' provision, which prevents the Holding Company and its affiliates from exceeding 9.99% beneficial ownership of the outstanding shares upon exercise or conversion of instruments.
• The percentage of class is calculated based on 9,363,145 shares outstanding as of May 12, 2025, as reported in the Issuer's Form 10-Q filed on May 16, 2025, plus the approximate total number of shares the Reporting Persons have acquired and/or can acquire upon the exercise of warrants and/or preferred shares subject to the Blocker.

Sentiment

Score: 7

Explanation: The filing indicates a substantial beneficial ownership stake by a group of investment entities and individuals, which can be interpreted as a positive signal of investor confidence in Dragonfly Energy Holdings Corp.

Positives

• A significant institutional investment group has taken a substantial stake (9.9%) in Dragonfly Energy Holdings Corp., potentially signaling confidence in the company's future prospects.
• The investment structure includes potential future share acquisition through warrants and preferred shares, indicating a long-term interest in the company, albeit capped by a 9.99% blocker.

Risks

• The 'Blocker' provision limits the ability of the reporting persons to increase their beneficial ownership beyond 9.99% of outstanding shares, which could cap their influence or future investment flexibility.
• The beneficial ownership includes shares that can be acquired through warrants and preferred shares, meaning the full 9.9% is not entirely composed of currently held common stock, which could imply future dilution if these instruments are exercised.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake could be viewed positively by existing shareholders, potentially signaling increased investor interest and confidence, which might positively influence share price.

Key Dates

Keywords

Dragonfly Energy Holdings Corp, DFEN, Schedule 13G, beneficial ownership, institutional investment, ATW Master Fund V L.P., JAK Opportunities XVII LLC, ATW Partners Opportunities Management, LLC, Kerry Propper, Antonio Ruiz-Gimenez, common stock, SEC filing