Solidion Chairman and CEO Jaymes Winters argued that Flux shareholders face a stark choice between the immediate cash offer and the prospect of near-total equity erosion. In an open letter, Winters cited Flux’s fiscal 2026 performance, which saw revenue plummet 37% to $42.1 million alongside a $7.4 million net loss. With only $300,000 in cash remaining, the company is currently in default under a credit agreement with Gibraltar Business Capital.
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Solidion Technology Bids for Flux Power Amid Financial Turmoil
Conflict lead: Solidion Technology has launched an unsolicited bid to acquire Flux Power Holdings, framing the move as a necessary intervention for a company struggling with mounting losses and looming shareholder dilution. Flux management has remained resistant to the proposal, drawing sharp criticism from Solidion’s leadership over their handling of the crisis.
The proposed acquisition aims to integrate Flux’s commercial infrastructure into Solidion’s broader battery technology strategy. Solidion, which reported $27.7 million in cash as of June 30, intends to impose strict operating discipline to reverse the target's negative cash flow. Winters emphasized that the current Flux leadership has failed to respond with the urgency required by the company’s precarious liquidity, which includes a mandate to raise $4 million in equity capital within 50 days or risk further shareholder dilution. Solidion maintains that a controlled buyout is the only viable path to preserve value for stakeholders.
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