PR Newswire·Oct 5, 2026, 6:00 AM ET

Solidion Technology (NASDAQ: STI) Remains Firm on Flux Power (NASDAQ: FLUX) Below Market Offer in Response to Flux Board Rejection

Solidion Technology states it has no intention of increasing its acquisition offer for Flux Power after Flux's Board rejected the proposal.
Solidion views its current bid as best and final, citing the need for capital and execution to stabilize Flux's business.
Flux Power requires a minimum of $10 million in fresh capital to meet its objectives, which Solidion claims will lead to highly dilutive equity issuance if secured through private placements or credit lines.
Flux Power faces NASDAQ listing pressure after its stock closed below $1.00 for 30 consecutive business days on July 24, 2026, triggering a 180-day compliance period.
Solidion warns that a potential reverse stock split for Flux could result in a 20-40% decline in share price due to post-split decay risk.
Macroeconomic risks, including tariff exposure within Flux's supply chain, remain significant hurdles that a stronger balance sheet is better suited to address.
Solidion asserts that Flux shareholders deserve transparency regarding the costs, dilution, & uncertainty of a turnaround strategy versus the certainty of an acquisition.
The press release notes that Solidion's interest in acquiring Flux is not a legally binding obligation or commitment to proceed with a transaction.