Solidion Holds Firm on Below-Market Bid for Flux Power After Rejection

Solidion Technology (NASDAQ: STI) said it has no plans to raise its below-market acquisition offer for Flux Power (NASDAQ: FLUX) after Flux Power's board formally rejected the bid, according to a statement released October 5, 2026.

The Dallas-based advanced battery company argued its offer price is justified given what it described as mounting financial pressures facing Flux Power, including highly dilutive financing requirements, unresolved regulatory issues, and an elevated risk of default. Solidion maintained that those conditions, rather than weakening its negotiating position, actually support keeping the offer at its current level.

Read more Hyperscale Data Sets Nov. 12 Investor Day to Outline AI Growth Plans →

The standoff highlights the complexities of unsolicited deals in the energy storage sector, where target companies often push back against suitors that frame their proposals as rescue transactions. By publicly reiterating its stance after the board rejection, Solidion appears to be making a direct appeal to Flux Power shareholders rather than management.

Solidion did not announce a deadline for its offer or signal whether it would pursue other avenues — such as a proxy contest or tender offer directly to shareholders — to advance the transaction. The company's insistence on holding price despite a board rebuff leaves the outcome uncertain, with Flux Power's financial trajectory likely to determine whether shareholder pressure builds on either side.

Continue reading at All Financial Services & Investing.