Solidion calls its below-market Flux Power bid "best and final" after board rejection

Solidion Technology responded to Flux Power's board rejecting its acquisition proposal, saying it sees no basis to raise its offer and considers the bid best and final. CEO Jaymes Winters disputed the board's claim that the offer "significantly undervalues" the company, citing Flux's dilutive financing needs, regulatory issues and default risk. Solidion said it will continue pursuing other targets in parallel.

Why it matters: A rare public standoff in small-cap battery tech, with an acquirer betting the target's going-concern pressure does the negotiating for it.