Flux Power Holdings, Inc., Vista, California, (NASDAQ CM: FLUX), a developer of advanced lithium industrial batteries for commercial and industrial equipment, has announced the closing of an underwritten public offering of 3,099,250 shares of common stock priced at $4.00 per share for gross proceeds of approximately $12.4 million, which includes the full exercise of the underwriters’ over-allotment option to purchase additional shares, prior to deducting the underwriting discount and offering expenses payable by Flux Power.
Flux Power intends to use the net proceeds of the offering for working capital and general corporate purposes.
Roth Capital Partners and National Securities Corporation, a wholly owned subsidiary of National Holdings Corporation (NASDAQ CM: NHLD), acted as the joint book-running managers for the offering.
The securities were offered pursuant to a registration statement on Form S-1 (File No. 333-231766), which was declared effective by the United States Securities and Exchange Commission on August 12, 2020.
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.