Solidion Technology (Nasdaq ticker: STI) continued to push forward with its bid at a price below market value after the board of directors of Flux Power (Nasdaq ticker: FLUX) rejected its acquisition proposal. The company stated that Flux Power still faces significant financing dilution pressure, regulatory issues, and default risks, hence there is no reason to raise the bid.

Dallas, October 5, 2026 / PRNewswire / -- Solidion Technology, Inc. (Nasdaq ticker: STI) ("Solidion Technology" or "the Company") today announced that its board of directors has decided to reject the acquisition proposal previously made by Solidion. Solidion stated that its offer was the "best and final offer".

“Solidion firmly disagrees with the statement of the Flux Power Board of Directors that its proposal ‘seriously underestimates’ the company,” said Jaymes Winters, Chairman and CEO of Solidion Technology. “The bid has taken into account the capital requirements and costs necessary to stabilize the company, and Solidion currently has no intention of raising the bid.”

Winters added, " Solidion has always been, and will continue to be, an opportunistic buyer. We will acquire companies that we believe can complement and strengthen our existing technologies. In this process, we will firmly safeguard the value for shareholders and will not pursue opportunities that are overpriced, beyond redemption, or inconsistent with Solidion's growth strategy. We will continue to look for other opportunities in parallel with FLUX."

Solidion believes:

• Flux Power still urgently needs capital, which will lead to a stock issuance at a significant discount: private placements, equity credit lines, or other highly dilutive financing tools activated in emergency situations (which may have already been used passively on October 2, 2026) will only further accelerate the loss of corporate value. If the board of directors believes its strategy can bring higher shareholder value, Solidion believes shareholders have a right to know how much additional capital is needed, where the funds will come from, and what costs this will impose on existing shareholders.
• To achieve its claimed goals, Flux Power requires at least $10 million in additional capital: if a significant dilution of equity is to be avoided, the only alternative financing method is for a stronger company to acquire Flux.
• Flux Power Still Under Pressure to List on NASDAQ: On July 24, 2026, Flux Power received a notice from NASDAQ stating that its closing price of common stock was below the minimum purchase price requirement of $1.00 for 30 consecutive trading days, and was given an initial 180-day period to rectify the situation. If a stock merger is still necessary, historical price declines related to such mergers have resulted in stock prices falling by 20% to 40%.
• The constantly changing macroeconomic environment still poses significant risks: The expectations for environmental improvement Flux Power overlook the ongoing uncertainties in the macroenvironment, especially the significant tariff risks faced by companies' supply chains. Companies with robust balance sheets are clearly better equipped to cope with these challenges and withstand macroeconomic uncertainties.

Solidion believes that it is necessary to provide Flux Power shareholders with the necessary transparency and information so that they can make a thorough assessment of Flux's ability to continue operating; shareholders should also make a clear choice between 'an acquisition with higher certainty' and 'continuing to fund a restructuring plan', the latter of which still has extremely uncertain ultimate costs, degree of dilution, and outcomes.

Regarding Solidion Technology, Inc.

Solidion (Nasdaq ticker: STI) is headquartered in Dallas, Texas, and has a pilot production facility in Dayton, Ohio. The core business of STI includes the manufacturing of battery materials and components, as well as the research and development and production of batteries for next-generation energy storage systems. This includes UPS systems used in artificial intelligence (AI) data centers, as well as electric vehicles for land, air, and marine transportation. Solidion holds over 385 patents, covering innovations such as high-capacity, silane-free gases and silicon anodes based on graphene, biomass-based graphite, as well as advanced lithium-sulfur and lithium-metal technologies.

For more information, please visit www.solidiontech.com, or contact the Investor Relations department.

Important Information Regarding the Proposed Transaction

Solidion has expressed its intention to acquire Flux Power Holdings and Inc. However, there is no guarantee that a formal agreement will ultimately be reached, nor that the transaction will be initiated or completed. This move does not constitute a legally binding obligation, nor does it represent an offer or commitment on the part of either party. Any past, present, or future statements of intent, proposals, discussions, or actions do not constitute a legally binding contract or an obligation to proceed with or complete the proposed transaction, unless a complete final written acquisition agreement has been signed. Any proposed transaction will be subject to applicable laws and regulatory requirements, the outcome of due diligence, financing arrangements, necessary approvals, and other customary conditions.

This notice is for informational purposes only and does not constitute an offer to purchase or a solicitation to sell securities. Furthermore, this notice does not constitute an offer to purchase or a solicitation to sell securities. This notice relates to the bid proposed for the business combination of Solidion with Flux. This notice cannot replace a power of attorney, registration statement, tender offer statement, prospectus, or any other documents that may be submitted to the U.S. Securities and Exchange Commission (SEC) by both parties regarding the proposed transaction. If the transaction is initiated, Solidion intends to submit relevant documents to SEC. Investors and security holders are strongly advised to read these documents carefully and thoroughly once they become available, as they will contain important information.

Forward-looking Statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Solidion Technology Inc. (Nasdaq ticker: STI) (“the Company”, “we”, “our”, or “us”) intends to benefit from the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and hereby attaches this cautionary note to such safe harbor law. Words such as “predicts”, “believes”, “may”, “estimates”, “continues”, “expects”, “intends”, “should”, “plans”, “perhaps”, “goal”, “potential”, “likely”, “anticipates”, and similar expressions, when used in relation to the Company, are intended to identify forward-looking statements. Unless required by law, we have no obligation to publicly update forward-looking statements due to new information, future developments, or other reasons.

Please follow us: