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Solidion Technology said it intends to pursue an acquisition of Flux Power and issued an open letter to Flux shareholders. The company said the proposed transaction is non-binding and would be subject to approvals, due diligence and financing.
"Solidion remains prepared to engage constructively with Flux's Board and management and believes Flux shareholders deserve the opportunity to choose between money now and little or no money later," said Jaymes Winters, Chairman and CEO of Solidion Technology. An Open Letter to the Shareholders of Flux Power Holdings I