Dragonfly Energy buys controlling stake in Dakota Lithium for $4 million, targets Q4 2026 EBITDA lift
Dragonfly Energy agreed to acquire a controlling stake in Dakota Lithium for $1 million in cash plus $3 million in stock (1.5 million shares at $2 each, subject to a 12-month lockup). The company said the deal is intended to ease working-capital and inventory constraints and improve product availability, as Dakota Lithium generated about $12 million in net revenue in 2025. As of March 31, 2026, Dragonfly held $8.64 million in cash and cash equivalents, and the transaction is expected to preserve nearly $1 million in near-term liquidity. DFLI shares rose 6.61% to $1.29 on the day.