Flux Power Holdings, Inc., Vista, California, (OTCQB: FLUX NASDAQ: FLUX), a developer of advanced lithium industrial batteries for commercial and industrial equipment, has announced the pricing of a $10.8 million underwritten public offering of 2,695,000 shares of common stock at a public offering price of $4.00 per share. Flux Power has also granted to the underwriters a 30-day option to acquire an additional 404,250 shares to cover overallotments in connection with the offering. The offering is expected to close on August 18, 2020, subject to the satisfaction of customary closing conditions. Flux Power intends to use the net proceeds of the offering for working capital and general corporate purposes.
Flux Power also announced that, in connection with the offering, its common stock has been approved for listing on the Nasdaq Capital Market and has begun trading on the Nasdaq Capital Market under the symbol “FLUX” on August 14, 2020.
Roth Capital Partners and National Securities Corporation, a wholly owned subsidiary of National Holdings Corporation (NASDAQ: NHLD), acted as the joint book-running managers for the offering.
About Flux Power Holdings, Inc.
Flux Power designs, develops, manufactures, and sells advanced rechargeable lithium-ion energy storage solutions for lift trucks and other industrial equipment including airport ground support equipment (GSE), energy storage for solar applications, and industrial robotic applications. Flux Power’s LiFT Packs, including the proprietary battery management system (BMS), provide customers with a better performing, more environmentally friendly, and lower total cost alternative, in many instances, to traditional lead acid and propane-based solutions.