Alternative Proposed Financing Facility Would Put FLUX Into a "Death Spiral"
DALLAS, Sept. 30, 2026 /PRNewswire/ -- Solidion Technology, Inc. (NASDAQ: STI) ("Solidion Technology" or "the Company"), an advanced battery technology solutions provider, today announced its intent to pursue the acquisition of Flux Power Holdings, Inc. (NASDAQ: FLUX) ("Flux Power" or "Flux") and issued an open letter to FLUX shareholders regarding the proposed transaction.
Solidion has significant concerns about any proposed financing arrangements that Flux Power would enter into within the next 60 days, given their stock price and trading volume.
"The Board of Directors and Management of Flux Power have a fiduciary duty to protect their shareholders," said Jaymes Winters, Chairman and CEO of Solidion Technology. "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."
About Solidion Technology, Inc.
Headquartered in Dallas, Texas with pilot production facilities in Dayton, Ohio, Solidion's (NASDAQ: STI) core business includes manufacturing of battery materials and components, as well as development and production of next-generation batteries for energy storage systems, including UPS systems serving the artificial intelligence (AI) data center market and electric vehicles for ground, aerospace, and sea transportation. Solidion holds a portfolio of over 385 patents, covering innovations such as high-capacity, silane gas free and graphene-enabled silicon anodes, biomass-based graphite, advanced lithium-sulfur and lithium-metal technologies.
For more information, please visit www.solidiontech.com or contact Investor Relations.
Important Information Regarding the Proposed Transaction
Solidion has expressed its interest in pursuing a potential acquisition of Flux Power Holdings, Inc. No assurance can be given that a definitive agreement will be entered into or that any transaction will ultimately be commenced or consummated. This letter is not a legally binding obligation, offer, or commitment by either party. No past, present, or future expression of intent, proposal, discussion, or course of conduct shall give rise to any legally binding contract or obligation to proceed with or close the proposed transaction unless and until a definitive written acquisition agreement has been fully executed. Any proposed transaction would be subject to applicable legal and regulatory requirements, the completion of due diligence, financing considerations, required approvals and other customary conditions.
This communication is for informational purposes only and does not constitute an offer to purchase or a solicitation of an offer to sell any securities. Additionally, this communication does not constitute an offer to buy or solicitation of an offer to sell any securities. This communication relates to a proposal which Solidion has made for a business combination transaction with Flux. This communication is not a substitute for any proxy statement, registration statement, tender offer statement, prospectus or other document the parties may file with the SEC in connection with the proposed transaction. This document shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. If and when a transaction is commenced, Solidion expects to file applicable materials with the U.S. Securities and Exchange Commission. Investors and security holders are urged to read such materials carefully and in their entirety when and if they become available because they will contain important information.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Solidion Technology Inc., (NASDAQ: STI) (the "Company," "Solidion," "we," "our" or "us") desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words "forecasts" "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.
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SOURCE Solidion Technology, Inc.
