Vista, CA – September 27, 2021 – Flux Power Holdings, Inc. (Nasdaq: FLUX), a developer of advanced lithium-ion battery packs for commercial and industrial equipment, today announced that it has closed on its previously announced registered direct offering, priced at-the-market under Nasdaq rules, for the sale of 2,142,860 shares of its common stock and warrants to purchase up to an aggregate of 1,071,430 shares of common stock, at a purchase price of $7.00 per share and associated warrant. The associated warrants have an exercise price equal to $7.00 per share, are exercisable immediately upon issuance and expire on September 28, 2026.
H.C. Wainwright & Co. acted as the exclusive placement agent for the registered direct offering.
The gross proceeds from the registered direct offering were approximately $15.0 million before deducting placement agent fees and other offering expenses. Flux Power currently intends to use the net proceeds from this registered direct offering for general corporate and working capital purposes.
About Flux Power Holdings, Inc. (www.fluxpower.com)
Flux Power designs, develops, manufactures, and sells advanced lithium-ion energy storage solutions for lift trucks, and other industrial equipment including airport ground support equipment (GSE), solar energy storage, and other commercial applications. Our “LiFT Pack” battery packs, including our proprietary battery management system (BMS) and telemetry, provide our customers with a better performing, lower cost of ownership, and more environmentally friendly alternative, in many instances, to traditional lead acid and propane-based solutions.