Solidion Sticks to Below-Market Flux Power Bid After Board Rejection
FLUX sits 39% above its 52-week low of $0.39 on elevated volume (54× avg).
Summary
Solidion Technology is not backing down after Flux Power's board rejected its all-cash acquisition offer as undervaluing the company. Solidion sees no basis to increase its offer and considers its bid to be best and final. The bid remains below Flux's market price, and Solidion's persistence signals it may pursue a hostile path or seek shareholder pressure. Flux is in a precarious position with only $0.3M in cash, a going-concern warning, and a Nasdaq delisting clock ticking. The standoff could force Flux to engage or seek alternative financing quickly.
At the time of this announcement, FLUX was trading at $0.54 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $13.8M. The 52-week trading range was $0.39 to $7.55. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: PR Newswire.