Solidion Technology pursues acquisition of Flux Power amid financing concerns

Solidion Technology, Inc. (NASDAQ: STI) announced its intent to acquire Flux Power Holdings, Inc. (NASDAQ: FLUX) and issued an open letter to Flux Power shareholders regarding the proposed transaction, according to a press release dated Sept. 30, 2026.

Solidion Chairman and CEO Jaymes Winters expressed concern about potential financing arrangements Flux Power may enter into within the next 60 days, citing the company's current stock price and trading volume. Winters characterized a $4 million financing facility as unfavorable compared to Solidion's acquisition offer.

"The Board of Directors and Management of Flux Power have a fiduciary duty to protect their shareholders," Winters said. "Simple math would tell you that a $4 million financing facility at Flux's current market cap and bid price would be infinitely less superior than what Solidion is offering. I therefore encourage all Flux shareholders to make themselves heard."

Solidion is headquartered in Dallas, Texas, with pilot production facilities in Dayton, Ohio. The company is engaged in battery materials manufacturing and next-generation battery development.

No definitive agreement has been reached, and Solidion stated that no assurance can be given that a transaction will be commenced or completed. Any proposed deal would be subject to regulatory requirements, due diligence, financing, and other customary conditions.

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