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Flux Power Closes Initial Round of Private Placement and Converts $7.8M of Debt to Equity

Jul 08, 2020•about 5 years ago

Amount Raised

$7 Million

Vista

Description

Flux Power Holdings, Inc. (“Flux Power”) (OTCQB: FLUX), a developer of advanced lithium industrial batteries for commercial and industrial equipment, today announced its initial close of a private placement, along with a related conversion of debt to equity.

Company Information

Company

Flux Power

Location

Vista, California, United States

About

Flux Power develops advanced lithium-ion batteries for commercial and industrial uses, including its first-ever UL 2271 Listed lithium-ion “LiFT Pack” forklift batteries. Flux Power solutions utilize its proprietary battery management system and in-house engineering and product design. Flux Power batteries deliver improved performance, extended cycle life and lower total cost of ownership than legacy lead acid solutions. Flux Power sells primarily to lift equipment OEMs, their dealers, and battery distributors. Products include advanced battery packs for motive power in the lift equipment and airport ground service markets, and other commercial and industrial applications.

FundzWatch™ Score

Medium Activity