Solidion Technology seeks cash acquisition of Flux Power
STI•Solidion Technology is pursuing an all-cash acquisition of Flux Power, but Flux’s management and board have resisted the approach. Solidion said its indicative price would likely fall below Flux’s Sept. 28 close after balance-sheet adjustments.
1. Acquisition approach
Solidion said in an open letter to Flux shareholders that it is pursuing an all-cash acquisition, citing strategic fit with its revenue and customer expansion plans. Flux reported fiscal 2026 revenue of $42.1 million, down 37%, a $7.4 million net loss and $0.3 million in cash; it also faces a 50-day requirement to raise at least $4 million in equity under an amended Gibraltar facility.
