Dragonfly Energy buys controlling stake in Dakota Lithium for $4 million, targets Q4 2026 EBITDA lift
AI Market Summary
Dragonfly Energy's acquisition of Dakota Lithium for $1M cash plus $3M in stock aims to ease working-capital and inventory constraints while adding a brand, IP, inventory, and distribution relationships. Dakota Lithium produced about $12M net revenue in 2025, and management expects the deal to become EBITDA accretive by Q4 2026. Liquidity support from lender covenant changes is expected to preserve roughly $1M near-term.
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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.
