DFLIW

These are warrants issued by Dragonfly Energy Holdings Corp., providing holders with the right to purchase shares of common stock at a specified exercise price before expiration. Warrants are derivative securities that typically have multi-year terms and become valuable when the underlying stock price exceeds the exercise price. The DFLIW warrants were likely issued as part of a financing transaction or SPAC merger to provide additional upside potential to early investors. Warrant holders can choose to exercise, sell, or allow the warrants to expire based on market conditions and the performance of the underlying stock.