Deal includes $1M in cash and $3M in DFLI stock, expanding Dragonfly’s lithium battery portfolio.
Dragonfly Energy Holdings (DFLI) has finalized the purchase of most Dakota Lithium operating assets for $4M. The transaction consists of $1M in cash and $3M in Dragonfly common stock, strengthening its position in the lithium battery market.
The acquisition follows growing demand for energy storage solutions, particularly in off-grid and recreational sectors. Dakota Lithium, known for its deep-cycle lithium batteries, had previously targeted niche markets with high-performance products.
No immediate market reaction was disclosed, though the deal may signal consolidation in the lithium battery industry amid rising competition.