Dragonfly Energy, a Lithium-Ion battery manufacturer, has entered into a definitive agreement for a business combination with Chardan NexTech Acquisition 2 Corp (CNTQ), a special purpose acquisition company, resulting in Dragonfly becoming a publicly-traded company on the NASDAQ. Upon closing the transaction, the combined company is expected to be listed on the NASDAQ under the new ticker symbol “DFLI.” The business combination values Dragonfly at $500 million pro forma enterprise value. The company plans to use the proceeds to accelerate the market penetration of its existing business and commercialize its proprietary and patented All-Solid-State-Battery technology.