Flux Power

Solidion Technology, listed on NASDAQ under STI, has stood by its below-market acquisition offer for Flux Power after the Flux board rejected the bid. The company says its proposal remains fair despite trading below Flux Power's market price, setting up a potential standoff between the two battery technology firms over the terms of a deal.

Solidion Technology has issued an open letter addressed directly to shareholders of Flux Power Inc., the battery manufacturer traded on NASDAQ under the ticker FLUX. The letter was distributed via PR Newswire. The contents of the letter and the response from Flux Power or its investors have not been disclosed, so the motive behind the public appeal remains to be seen.

Solidion Technology has published an open letter addressed directly to shareholders of Flux Power Inc., the battery technology company traded on Nasdaq under the ticker FLUX. The letter, released as a corporate announcement, signals an active attempt by Solidion to communicate its position to Flux Power investors, a move typically associated with merger proposals, acquisition bids or governance disputes. The full contents of the letter and any specific demands or offers have not yet been widely reported.

Solidion Technology, a Nasdaq-listed battery technology company, says it will not raise its below-market acquisition offer for Flux Power after Flux's board rejected the bid. The standoff leaves the takeover fight at an impasse, with Solidion signaling no intention to improve terms despite the target's refusal, keeping investors watching for a possible hostile move or withdrawn proposal.

Solidion Technology chairman and CEO Jaymes Winters is publicly defending the company's acquisition price for Flux Power, Inc. (Nasdaq: FLUX), which sits below the battery maker's current market value. Winters argues the terms are justified, but the discount to the trading price is likely to draw scrutiny from Flux Power shareholders weighing whether to accept the deal.