O’Melveny Worldwide

The Deal: SPACs Show Signs of Life and Death

May 16, 2022

Dragonfly Energy Corp. announced a US$445 million deal with Chardan Nextech Acquisition 2 Corp. that will result in Dragonfly becoming a publicly listed company. The business combination includes “a US$75 million secured loan arranged by Energy Impact Partners and a US$5 million equity investment by Chardan Capital Markets.” Based in Reno, Nevada, Dragonfly produces lithium-ion storage batteries. O’Melveny & Myers LLP serves as legal advisor to Dragonfly.

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