Flux Power Holdings’ Board of Directors unanimously rejected Solidion Technology’s unsolicited, non-binding acquisition proposal announced Sept. 30, 2026, saying the offer substantially undervalues the company and is not in the best interests of Flux Power and its shareholders. Solidion Technology shares fell 11.12% to $5.47 in midday trading after the rejection and moved near their intraday low. Flux Power said its management team is focused on repositioning the business toward profitability through lower product and operating costs, supply-chain improvements, refreshed sales leadership, expanded OEM relationships and new marketing programs. In the 2026 fiscal fourth quarter, operating expenses fell 33% from the year-earlier fiscal fourth quarter, Flux Power gained certification with a new major OEM and launched AI-driven SkyEMS 3.0. The company is also using its S series for white-label offerings to OEMs and dealership networks and has entered robotics through a collaboration with a large global technology company. Flux Power said it expects easing macroeconomic conditions and growing demand for lithium-ion batteries to support future growth, while its board evaluates financing paths and strategic partnerships. The release cautions that these expectations are forward-looking and depend on funding, credit access, market demand, supply chains, regulatory and listing compliance, manufacturing execution and other risks.