Solidion Technology Holds Firm on Below-Market Flux Power Bid
Solidion Technology is standing by its offer for Flux Power despite board rejection, citing dilution risks and regulatory concerns.
Solidion Technology, Inc. (NASDAQ: STI) said it sees no reason to raise its acquisition offer for Flux Power (NASDAQ: FLUX), maintaining its below-market bid even after Flux Power's board formally rejected the proposal. The Dallas-based company issued the statement on October 5, 2026, defending its position in unusually direct terms.
Solidion argued that Flux Power continues to face significant financial headwinds, including what it described as heavily dilutive financing needs that could erode shareholder value. The company also pointed to unresolved regulatory issues and an elevated risk of default as factors that justify the offer price rather than undermine it.
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By publicly reiterating its stance after the board rejection, Solidion appears to be appealing directly to Flux Power shareholders, a tactic sometimes used in contested acquisition situations to build pressure on a resistant board. The company's filing underscores its view that Flux Power's standalone outlook is weaker than the board's rejection implies.
Flux Power, which manufactures lithium-ion battery packs for industrial equipment, has not publicly indicated any willingness to re-engage with Solidion on revised terms. The standoff leaves the proposed deal in limbo, with the next move likely dependent on whether Flux Power shareholders align with management's rejection or push for further dialogue.
The situation highlights broader tensions in the battery technology sector, where companies face mounting capital requirements to scale production amid a competitive and regulatory-heavy environment. Continue reading at All Financial Services & Investing.
