RENO, Nev., Oct. 06, 2022 (GLOBE NEWSWIRE) — Chardan NexTech Acquisition 2 Corp. (“CNTQ”) (Nasdaq: CNTQ), a publicly traded particular goal acquisition firm, in the present day introduced that its shareholders voted to approve the beforehand introduced business mixture with Dragonfly Energy, Corp. (“Dragonfly”) at CNTQ’s particular assembly of shareholders held in the present day, October 6, 2022 (the “Special Meeting”).
Over 99.9% of the votes forged on the Special Meeting have been forged in favor of the approval of the business mixture. CNTQ shareholders additionally voted to approve all different proposals introduced on the Special Meeting. CNTQ plans to file the outcomes of the Special Meeting, as tabulated by the inspector of election, with the Securities and Exchange Commission (the “SEC”) on a Form 8-Ok.
About Dragonfly
Dragonfly Energy Corp., headquartered in Reno, Nevada, is a number one provider of deep cycle lithium-ion batteries. Dragonfly’s analysis and growth initiatives are revolutionizing the power storage business by way of progressive applied sciences and manufacturing processes. Today, Dragonfly’s non-toxic deep cycle lithium-ion batteries are displacing lead-acid batteries throughout a variety of end-markets, together with RVs, marine vessels, off-grid installations, and different storage functions. Dragonfly can be centered on delivering an power storage answer to allow a extra sustainable and dependable good grid by way of the longer term deployment of the Company’s proprietary and patented solid-state cell expertise. To study extra, go to www.dragonflyenergy.com/buyers.
About Chardan NexTech Acquisition 2 Corp.
Chardan NexTech Acquisition 2 Corp. (Nasdaq: CNTQ) is a clean test firm 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 firm was fashioned for the aim of effecting a merger, share trade, asset acquisition, inventory buy, recapitalization, reorganization or related business mixture with a number of companies. The Company has centered its seek for a goal business working in disruptive applied sciences. To study extra, go to https://www.cnaq.com/.
Forward-Looking Statements
This press launch incorporates sure “forward-looking statements” inside the which means 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, together with sure monetary forecasts and projections. All statements aside from statements of historic reality contained on this press launch, together with statements as to the transactions contemplated by the business mixture and associated agreements, future outcomes of operations and monetary place, income and different metrics, deliberate services and products, business technique and plans, goals of administration for future operations of Dragonfly, market dimension and progress alternatives, aggressive place and technological and market developments, are forward-looking statements. Some of those forward-looking statements could be recognized by way of forward-looking phrases, together with “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “plan,” “targets,” “projects,” “could,” “would,” “continue,” “forecast” or the negatives of those phrases or variations of them or related expressions. All forward-looking statements are topic to dangers, uncertainties, and different elements (a few of that are past the management of Dragonfly or CNTQ) which may trigger precise outcomes to vary materially from these expressed or implied by such forward-looking statements. All forward-looking statements are primarily based upon estimates, forecasts and assumptions that, whereas thought-about affordable by CNTQ and its administration, and Dragonfly and its administration, because the case could also be, are inherently unsure and lots of elements might trigger the precise outcomes to vary materially from present expectations which embody, however usually are not restricted to: 1) the prevalence of any occasion, change or different circumstances that would give rise to the termination of the definitive merger settlement with respect to the business mixture; 2) the result of any authorized proceedings that could be instituted towards Dragonfly, CNTQ, the mixed firm or others following the announcement of the business mixture and the transactions contemplated thereby; 3) the lack to finish the business mixture as a result of failure to acquire approval of the stockholders of CNTQ, or to fulfill different situations to closing the business mixture; 4) modifications to the proposed construction of the business mixture that could be required or applicable because of relevant legal guidelines or rules or as a situation to acquiring regulatory approval of the business mixture; 5) the power to satisfy Nasdaq’s itemizing requirements following the consummation of the business mixture; 6) the danger that the business mixture disrupts present plans and operations of Dragonfly because of the announcement and consummation of the business mixture; 7) the lack to acknowledge the anticipated advantages of the business mixture; 8) means of Dragonfly to efficiently enhance market penetration into its goal markets; 9) the addressable markets that Dragonfly intends to focus on don’t develop as anticipated; 10) the lack of any key executives; 11) the lack of any relationships with key suppliers together with suppliers in China; 12) the lack of any relationships with key clients; 13) the lack to guard Dragonfly’s patents and different mental property; 14) the failure to efficiently optimize stable state cells or to provide commercially viable stable state cells in a well timed method or in any respect, or to scale to mass manufacturing; 15) prices associated to the business mixture; 16) modifications in relevant legal guidelines or rules; 17) the chance that Dragonfly or the mixed firm could also be adversely affected by different financial, business and/or aggressive elements; 18) Dragonfly’s estimates of its progress and projected monetary outcomes for 2022 and 2023 and assembly or satisfying the underlying assumptions with respect thereto; 19) the danger that the business mixture is probably not accomplished in a well timed method or in any respect, which can adversely have an effect on the worth of CNTQ’s securities; 20) the danger that the transaction is probably not accomplished by CNTQ’s business mixture deadline (as could also be prolonged pursuant to CNTQ’s governing paperwork); 21) the affect of the novel coronavirus illness pandemic, together with any mutations or variants thereof and the Russian/Ukrainian battle, and any ensuing impact on business and monetary situations; 22) incapability to finish the PIPE funding, the time period mortgage and fairness line (ChEF) in reference to the business mixture; 23) the potential for occasions or circumstances that end in Dragonfly’s failure to well timed obtain the anticipated advantages of Dragonfly’s buyer preparations with Thor; and 24) different dangers and uncertainties set forth within 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-Ok for the 12 months ended December 31, 2021, Quarterly Report on Form 10-Q for the three months ended June 30, 2022 and registration assertion on Form S-4 (File No. 333-266273) filed with the SEC on July 22, 2022, and declared efficient on September 16, 2022. These filings determine and deal with different vital dangers and uncertainties that would trigger precise occasions and outcomes to vary materially from these contained within the forward-looking statements. Nothing on this press launch must be considered a illustration by any person who the forward-looking statements set forth herein will likely be achieved or that any of the contemplated outcomes of such ahead wanting statements will likely be achieved. You shouldn’t place undue reliance on forward-looking statements, which converse solely as of the date they’re made. Neither CNTQ nor Dragonfly offers any assurance that both CNTQ or Dragonfly or the mixed firm will obtain its anticipated outcomes. Neither CNTQ nor Dragonfly undertakes any obligation to replace these forward-looking statements, besides as in any other case required by legislation.
Dragonfly Contacts:
Investor Relations
Sioban Hickie, ICR, Inc.
[email protected]
Media
Zach Gorin, ICR, Inc.
[email protected]
