Solidion Technology Bids for Flux Power Amid Financial Turmoil

Solidion Technology, based in Dallas, publicly signaled its intent to buy Flux Power after repeated attempts to engage the company’s leadership stalled. The proposal arrives as Flux faces severe fiscal pressure, including a 37% revenue decline in fiscal 2026 to $42.1 million and a net loss of $7.4 million.

Flux’s financial position has drawn scrutiny from independent auditors, who raised doubts regarding the company's ability to continue as a going concern. The firm is currently in default under a credit agreement with Gibraltar Business Capital, which requires the company to secure $4 million in new equity capital within 50 days. Solidion argues this financing will result in significant dilution for existing shareholders, making its all-cash offer a more attractive exit. While Solidion holds $27.7 million in cash and cash equivalents, it maintains that a leaner operating structure is required to restore long-term value to Flux's business.