Chardan NexTech Acquisition 2 Corp.

Chardan NexTech Acquisition 2 Corp. is a blank-check company (SPAC) that raised $110M in its initial public offering on Aug 12, 2021, listing on Nasdaq Capital Market. It completed its business combination with Dragonfly Energy Corp. on Oct 7, 2022; the combined company is Dragonfly Energy Holdings Corp. (DFLI). Chardan led the IPO, with URGE Imprint and URGE Development. Reed Smith advised the SPAC and Greenberg Traurig advised the underwriters on the IPO.

Dragonfly Energy Corp., headquartered in Reno, Nevada, manufactures deep cycle lithium-ion batteries. It sells them direct to consumers under the Battle Born Batteries brand and to original equipment manufacturers such as Keystone RV, designing and assembling the products in the USA.

Status

Merger completed

IPO date

Aug 12, 2021

IPO size

$110M

IPO exchange

Nasdaq Capital Market

Target

Dragonfly Energy Corp.

Announced

Jul 12, 2022

Closed

Oct 7, 2022

Combined company

Dragonfly Energy Holdings Corp. (DFLI)

IPO underwriters

Chardan, URGE Imprint, URGE Development, Citigroup and BISYS

SPAC counsel (IPO)

Reed Smith

Underwriters' counsel (IPO)

Greenberg Traurig