Dragonfly Energy Holdings Corp. has announced a 1-for-8 reverse stock split of its common stock, as disclosed in a Current Report on Form 8-K filed with the SEC on October 7, 2026. The Board of Directors approved the split, which will reduce the number of issued and outstanding shares by a factor of eight. The transaction is intended to increase the company's closing bid price above $1.00 per share to maintain compliance with Nasdaq Listing Rule 5550(a)(2).
The reverse split will become effective at 12:01 a.m., Pacific Time, on October 12, 2026. As a result, the company’s authorized share count will be reduced from 400,000,000 shares to 50,000,000 shares, while the par value per share will remain at $0.0001. The trading symbol “DFLI” will remain unchanged on The Nasdaq Capital Market. The new CUSIP number for the Common Stock will be 26145B 601.
Under the terms of the split, stockholders will see their share counts automatically divided by eight. The company will not issue fractional shares; instead, any holder who would have received a fractional share will receive one whole share. The split does not require stockholder approval under Nevada law as it was approved by the Board in accordance with NRS 78.207.
Proportionate adjustments will be made to the company’s outstanding equity awards, warrants, and convertible preferred stock. Specifically, each warrant will become exercisable for one-eighth of a share of Common Stock, and the conversion factor for convertible preferred stock will be adjusted accordingly. Equiniti Trust Company, LLC is acting as the transfer and exchange agent for the transaction.
