Flux Power Holdings (NASDAQ: FLUX), a developer of advanced lithium industrial batteries for commercial and industrial equipment, has closed an underwritten public offering of 3,099,250 shares of common stock, including 404,250 additional shares per the full exercise of the over-allotment option granted to the underwriters. Flux Power Holdings secured approximately $12.4 million in gross proceeds, with each of the shares sold at the public offering price of $4.00. Flux Power intends to use the proceeds for working capital and general corporate purposes. Roth Capital Partners acted as joint book-running manager for the offering.
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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 solutions. For more information, visit the company’s website at www.FluxPower.com.
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