Flux Power board rejects Solidion's acquisition bid as undervalued

Flux Power Holdings, Inc. (NASDAQ: FLUX) said its board of directors unanimously rejected an unsolicited, non-binding acquisition proposal from Solidion Technology, Inc. (NASDAQ: STI), announced by Solidion on Sept. 30, 2026.

The board, after a review conducted with legal advisors, concluded the proposal "substantially undervalues Flux Power and is not in the best interests of the Company and its shareholders," according to a statement issued Oct. 2, 2026.

The Vista, Calif.-based company said its management team is focused on repositioning the business toward profitability. In its fiscal fourth quarter of 2026, Flux Power reported a 33% reduction in operating expenses compared to the same period in 2025. The company also said it achieved certification with a new major original equipment manufacturer and launched an AI-driven version of its SkyEMS platform.

Flux Power said it is pursuing a white-label strategy using its S series product as an anchor to approach new OEM and dealership networks. The company also disclosed it has entered the robotics vertical in collaboration with a large global technology company.

The board said it is currently evaluating potential financing paths and strategic partnerships to provide the company with financial flexibility to continue executing its operating strategy.

Flux Power designs and manufactures lithium-ion energy storage solutions for industrial and commercial applications, including material handling and airport ground support equipment. This report is based on a press release issued by the company.

You May Also Be Interested In

• Softbank Said To Weigh Buying Largest Us Security Firm Allied - Bloomberg
• RBC: 'We believe $480/share is a price at which Tesla shareholders should be receptive to a deal'
• LexinFintech receives Nasdaq notice over minimum bid price rule