Solidion goes public with unwanted all-cash bid for Flux Power

Solidion Technology said it intends to pursue an all-cash acquisition of Nasdaq-listed Flux Power Holdings and issued an open letter to Flux shareholders after what it described as resistance from Flux's board and management. Solidion acknowledged its non-binding indication of interest is priced below Flux's prior closing price once accounting adjustments are considered, arguing shareholders face dilution from pending stock issuance. It also warned a proposed $4 million financing facility would be worse for holders.

Why it matters: A rare public hostile approach in the small-cap battery space, pitting a cash-now pitch against a dilutive financing alternative.