Dragonfly Energy Corp. (“Dragonfly”), an industry leader in energy
storage and producer of deep cycle lithium-ion storage batteries,
today announced a further strengthening of its established business
relationship with Keystone RV, the largest Towable RV Manufacturer
in the U.S. Customers can now expect to have Dragonfly Energy
Lithium-Ion batteries included on all Keystone units shipped
through the end of 2022. This arrangement strengthens Keystone’s
previously announced exclusive agreement to provide Dragonfly
Energy batteries as standard or optional OEM equipment on all
Keystone RV travel trailers and fifth-wheels. The
Dragonfly-Keystone relationship continues to value customers,
ensuring every Keystone RV that ships out through the end of year
will have Dragonfly Energy’s Lithium-Ion batteries on board.
“Keystone RV has long been on the forefront of
technology development for their units, which is why this
partnership is so ideal,” said Denis Phares, CEO of Dragonfly
Energy. “Keystone RV's numerous award-winning brands are embracing
Dragonfly’s battery storage products that improve the RV’ing
experience for their customers, and we’re excited to be an integral
part of that.”
“This strategic partnership with Dragonfly
Energy shows our commitment to setting the standard in our industry
for providing top energy storage solutions for all of our
customers,” said Jeff Runels, President & CEO of Keystone RV.
“Ultimately, it’s about creating the best product and customer
experience possible, and the inclusion of Dragonfly Energy
batteries takes our units to that next level to elevate the RV
experience for our customers overall.”
As environmentally safe, high performance and
maintenance free products, Dragonfly Energy Lithium-ion batteries
have changed the way the RV industry looks at energy storage.
Dragonfly products are outperforming replacements for traditional
lead-acid batteries with a 10-times longer lifespan, 3-times the
power, 5-times the energy density, and 5-times the charging speed.
Engineered, designed, and tested for quality control all under one
facility in the USA, Dragonfly Energy holds high confidence in the
reliability and performance of their product line, proud to
alleviate battery anxiety for Keystone customers while
traveling.
About DragonflyDragonfly Energy
Corp., headquartered in Reno, Nevada, is a leading supplier of deep
cycle lithium-ion batteries. Dragonfly’s research and development
initiatives are revolutionizing the energy storage industry through
innovative technologies and manufacturing processes. Today,
Dragonfly’s non-toxic deep cycle lithium-ion batteries are
displacing lead-acid batteries across a wide range of end-markets,
including RVs, marine vessels, off-grid installations, and other
storage applications. Dragonfly is also focused on delivering an
energy storage solution to enable a more sustainable and reliable
smart grid through the future deployment of the Company’s
proprietary and patented solid-state cell technology. To learn
more, visit www.dragonflyenergy.com/investors.
Dragonfly previously announced an agreement for
a business combination with Chardan NexTech Acquisition 2 Corp.
(“CNTQ”) (Nasdaq: CNTQ), which is expected to result in Dragonfly
becoming a public company listed on the Nasdaq Stock Exchange under
the new ticker symbol “DFLI” in the second half of 2022, subject to
customary closing conditions.
About Keystone RVAn operating
company under the umbrella of THOR Industries, Keystone RV Company
is the #1 manufacturer of towable RVs in North America.
Focused on helping owners Camp Better™, Keystone offers a wide
range of RVs including single-axle minis, ultra-lightweight
travel trailers, luxury travel trailers, fifth wheels, and toy
haulers. Keystone brands include Montana, Montana High
Country, Alpine, Avalanche, Cougar, Cougar Half-ton,
Alpine, Outback, Sprinter, Passport, Bullet, Premiere,
Springdale, Hideout, Fuzion, Raptor and Carbon. Headquartered
in Goshen, Indiana, Keystone has manufacturing facilities in
Goshen and Pendleton, Oregon as well as more than 1,000 dealer
locations throughout the U.S. and Canada. For more information on
Keystone RV, visit KeystoneRV.com.
About Chardan NexTech Acquisition 2
Corp. Chardan NexTech Acquisition 2 Corp. (Nasdaq: CNTQ)
is a blank check company led by its Chairman of the Board of
Directors, Kerry Propper, its Chief Executive Officer and Director,
Jonas Grossman, and its Chief Financial Officer and Director, Alex
Weil. The company was formed for the purpose of effecting a merger,
share exchange, asset acquisition, stock purchase,
recapitalization, reorganization or similar business combination
with one or more businesses. The Company has focused its search for
a target business operating in disruptive technologies. To learn
more, visit https://www.cnaq.com/.
Additional Information and Where to Find
ItThis press release relates to a proposed transaction
between CNTQ and Dragonfly. CNTQ has filed a registration statement
on Form S-4 with the SEC, which is subject to change and includes a
document that serves as a prospectus and proxy statement of CNTQ,
referred to as a proxy statement/prospectus. The definitive proxy
statement/prospectus will be sent to all CNTQ stockholders. CNTQ
has also filed other documents regarding the proposed transaction
with the SEC. Before making any voting decision, investors and
security holders of CNTQ are urged to read the registration
statement, the proxy statement/prospectus and all other relevant
documents filed or that will be filed with the SEC in connection
with the proposed transaction because they contain important
information about the proposed transaction.
Investors and security holders are able to
obtain free copies of the registration statement, the proxy
statement/prospectus and all other relevant documents filed or that
will be filed with the SEC by CNTQ through the website maintained
by the SEC at www.sec.gov.
The documents filed by CNTQ with the SEC also
may be obtained by contacting Chardan NexTech Acquisition 2 Corp.
at 17 State Street, 21st Floor, New York, New York 10004, or by
calling (646) 465-9001.
NEITHER THE SEC NOR ANY STATE SECURITIES
REGULATORY AGENCY HAS APPROVED OR DISAPPROVED THE TRANSACTIONS
DESCRIBED IN THIS PRESS RELEASE, PASSED UPON THE MERITS OR FAIRNESS
OF THE BUSINESS COMBINATION OR RELATED TRANSACTIONS OR PASSED UPON
THE ADEQUACY OR ACCURACY OF THE DISCLOSURE IN THIS PRESS RELEASE.
ANY REPRESENTATION TO THE CONTRARY CONSTITUTES A CRIMINAL
OFFENSE.
Participants in the
SolicitationDragonfly, CNTQ and certain of their
respective directors, executive officers and other members of
management and employees may, under SEC rules, be deemed to be
participants in the solicitation of proxies from CNTQ’s
shareholders in connection with the proposed business combination.
A list of the names of such persons and information regarding their
interests in the proposed business combination are contained in the
definitive proxy statement/prospectus. You may obtain free copies
of these documents free of charge by directing a written request to
CNTQ or Dragonfly. The definitive proxy statement will be mailed to
CNTQ’s shareholders as of a record date to be established for
voting on the proposed business combination when it becomes
available.
Forward-Looking StatementsThis
press release contains certain “forward-looking statements” within
the meaning of the United States Private Securities Litigation
Reform Act of 1995, Section 27A of the Securities Act of 1933, as
amended (the “Securities Act”) and Section 21E of the Securities
Exchange Act of 1934, as amended, including certain financial
forecasts and projections. All statements other than statements of
historical fact contained in this press release, including
statements as to the transactions contemplated by the business
combination and related agreements, future results of operations
and financial position, revenue and other metrics, planned products
and services, business strategy and plans, objectives of management
for future operations of Dragonfly, market size and growth
opportunities, competitive position and technological and market
trends, are forward-looking statements. Some of these
forward-looking statements can be identified by the use of
forward-looking words, including “may,” “should,” “expect,”
“intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,”
“plan,” “targets,” “projects,” “could,” “would,” “continue,”
“forecast” or the negatives of these terms or variations of them or
similar expressions. All forward-looking statements are subject to
risks, uncertainties, and other factors (some of which are beyond
the control of Dragonfly or CNTQ) which could cause actual results
to differ materially from those expressed or implied by such
forward-looking statements. All forward-looking statements are
based upon estimates, forecasts and assumptions that, while
considered reasonable by CNTQ and its management, and Dragonfly and
its management, as the case may be, are inherently uncertain and
many factors may cause the actual results to differ materially from
current expectations which include, but are not limited to: 1) the
occurrence of any event, change or other circumstances that could
give rise to the termination of the definitive merger agreement
with respect to the business combination; 2) the outcome of any
legal proceedings that may be instituted against Dragonfly, CNTQ,
the combined company or others following the announcement of the
business combination and the transactions contemplated thereby; 3)
the inability to complete the business combination due to the
failure to obtain approval of the stockholders of CNTQ, or to
satisfy other conditions to closing the business combination; 4)
changes to the proposed structure of the business combination that
may be required or appropriate as a result of applicable laws or
regulations or as a condition to obtaining regulatory approval of
the business combination; 5) the ability to meet Nasdaq's listing
standards following the consummation of the business combination;
6) the risk that the business combination disrupts current plans
and operations of Dragonfly as a result of the announcement and
consummation of the business combination; 7) the inability to
recognize the anticipated benefits of the business combination; 8)
ability of Dragonfly to successfully increase market penetration
into its target markets; 9) the addressable markets that Dragonfly
intends to target do not grow as expected; 10) the loss of any key
executives; 11) the loss of any relationships with key suppliers
including suppliers in China; 12) the loss of any relationships
with key customers; 13) the inability to protect Dragonfly’s
patents and other intellectual property; 14) the failure to
successfully optimize solid state cells or to produce commercially
viable solid state cells in a timely manner or at all, or to scale
to mass production; 15) costs related to the business combination;
16) changes in applicable laws or regulations; 17) the possibility
that Dragonfly or the combined company may be adversely affected by
other economic, business and/or competitive factors; 18)
Dragonfly’s estimates of its growth and projected financial results
for 2022 and 2023 and meeting or satisfying the underlying
assumptions with respect thereto; 19) the risk that the business
combination may not be completed in a timely manner or at all,
which may adversely affect the price of CNTQ’s securities; 20) the
risk that the transaction may not be completed by CNTQ’s business
combination deadline (as may be extended pursuant to CNTQ’s
governing documents); 21) the impact of the novel coronavirus
disease pandemic, including any mutations or variants thereof and
the Russian/Ukrainian conflict, and any resulting effect on
business and financial conditions; 22) inability to complete the
PIPE investment, the term loan and equity line (ChEF) in connection
with the business combination; 23) the potential for events or
circumstances that result in Dragonfly’s failure to timely achieve
the anticipated benefits of Dragonfly’s customer arrangements with
Thor; and 24) other risks and uncertainties set forth in the
sections entitled “Risk Factors” and “Cautionary Note Regarding
Forward-Looking Statements” in CNTQ’s Form S-1 (File Nos.
333-252449 and 333-253016), Annual Report on Form 10-K for the year
ended December 31, 2021, Quarterly Report on Form 10-Q for the
three months ended June 30, 2022 and registration statement on Form
S-4 (File No. 333-266273) filed with the SEC on July 22, 2022, as
amended, which is subject to change and will include a document
that serves as a prospectus and proxy statement of CNTQ, referred
to as a proxy statement/prospectus and other documents filed by
CNTQ from time to time with the SEC. These filings identify and
address other important risks and uncertainties that could cause
actual events and results to differ materially from those contained
in the forward-looking statements. Nothing in this press release
should be regarded as a representation by any person that the
forward-looking statements set forth herein will be achieved or
that any of the contemplated results of such forward looking
statements will be achieved. You should not place undue reliance on
forward-looking statements, which speak only as of the date they
are made. Neither CNTQ nor Dragonfly gives any assurance that
either CNTQ or Dragonfly or the combined company will achieve its
expected results. Neither CNTQ nor Dragonfly undertakes any duty to
update these forward-looking statements, except as otherwise
required by law. For additional information, see “Risk
Considerations” in the investor presentation, filed in a Current
Report on Form 8-K by CNTQ with the SEC and available at
www.sec.gov.
No Offer or SolicitationThis
press release and the information contained therein are not
intended to and do not constitute an offer to sell or the
solicitation of an offer to buy, sell or solicit any securities or
any proxy, vote or approval, nor shall there be any sale of
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction. No offer of
securities shall be deemed to be made except by means of a
prospectus meeting the requirements of Section 10 of the Securities
Act or an exemption therefrom.
Dragonfly Contacts:
Investor Relations Sioban Hickie, ICR,
Inc.DragonflyIR@icrinc.com
Media Zach Gorin, ICR,
Inc.DragonflyPR@icrinc.com
Dragonfly Energy (NASDAQ:DFLI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Dragonfly Energy (NASDAQ:DFLI)
Historical Stock Chart
From Apr 2023 to Apr 2024