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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 Technology has proposed an all-cash deal for Flux Power via an open letter to shareholders, described as non-binding. Solidion cited Flux’s fiscal 2026 revenue drop, net loss, cash and going-concern warning, and a Gibraltar credit default tied to a Sept. 18 equity-raise amendment.