Solidion holds firm on Flux Power bid after board rejection

Solidion Technology (NASDAQ: STI) said its acquisition offer for Flux Power Holdings (NASDAQ: FLUX) is best and final, following Flux Power's board rejection of the proposal as undervaluing the company.

Jaymes Winters, Chairman and CEO of Solidion Technology, said the company "strongly disagrees" with the Flux Power board's assessment. "This offer takes into account the capital and execution required to stabilize the business, and Solidion has no intention of increasing its offer at this time," Winters said in a statement based on the company's press release.

Solidion cited several financial pressures it believes Flux Power faces, including an immediate need for at least $10 million in fresh capital, which it argues would likely result in highly dilutive equity issuances for existing shareholders.

Solidion also noted that on July 24, 2026, Flux Power received a notice from Nasdaq that its stock had closed below the $1.00 minimum bid price for 30 consecutive business days, triggering an initial 180-day compliance period. Solidion warned that any required reverse stock split could result in a subsequent 20–40% decline in share price based on historical patterns.

Solidion further cited tariff exposure affecting Flux Power's supply chain and broader macroeconomic uncertainty as additional risks facing the company on a standalone basis.

Winters indicated Solidion would continue pursuing other acquisition targets in parallel. "We will be resolute custodians of our shareholder value and not seek opportunities that are overpriced, beyond repair or not related to Solidion's growth strategy," he said.

No definitive agreement has been reached, and Solidion noted any transaction would remain subject to regulatory requirements, due diligence, financing, and other conditions.

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