Solidion Technology proposes all-cash acquisition of Flux Power
STI•Solidion Technology proposed a non-binding, all-cash acquisition of Flux Power in an open letter to shareholders. Solidion cited Flux’s fiscal 2026 revenue of $42.1 million, down 37%, and said accounting adjustments could put its offer price per share below Flux’s Sept. 28 close.
1. Non-binding proposal
Solidion Technology proposed an all-cash acquisition of Flux Power in an open letter to Flux shareholders. The proposal is non-binding, and Solidion said accounting adjustments could put its price per share below Flux’s Sept. 28 close.
2. Flux financial position
Solidion cited Flux’s fiscal 2026 revenue of $42.1 million, down 37%, and a net loss of $7.4 million. Flux ended the fiscal year with about $300,000 in cash, an accumulated deficit of $113.8 million and a going-concern warning.
3. Credit agreement
Solidion also cited Flux’s credit default with Gibraltar. A Sept. 18 amendment required Flux to raise at least $4 million in equity within 50 days.
