Dallas, September 30th / PRNewswire / -- Solidion Technology, Inc. (Nasdaq ticker: STI) ("Solidion Technology" or "the Company") is a provider of advanced battery technology solutions. Today, the company announced its intention to advance an acquisition of Flux Power Holdings, Inc. (Nasdaq ticker: FLUX) ("Flux Power" or "Flux"), and issued an open letter to the shareholders of FLUX regarding the proposed transaction.

Solidion indicates that, considering the stock price and trading volume of Flux Power, the company is 'very concerned' about any financing arrangements that Flux Power may undertake within the next 60 days.

Solidion Technology Chairman and CEO Jaymes Winters stated: "The board of directors and management have a fiduciary duty to protect the interests of shareholders. With a simple calculation, it is evident that under Flux's current market value and bid price, a $40 million financing arrangement is far less favorable than the proposal offered by Solidion. Therefore, I encourage all Flux shareholders to speak up for themselves."

Regarding Solidion Technology, Inc.

Solidion is headquartered in Dallas, Texas, and has a pilot production facility in Dayton, Ohio. The company's core business includes the manufacturing of battery materials and components, as well as the development and production of next-generation batteries for energy storage systems. This includes uninterruptible power supply (UPS) systems for the artificial intelligence (AI) data center market, as well as electric vehicle batteries for land, aerospace, and maritime transportation. Solidion holds over 385 patents, covering innovations such as high-capacity, silane-free gas, and graphene-enhanced silicon anodes, biomass graphite, 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 indicates an interest in acquiring Flux Power Holdings, Inc. However, there is no guarantee that a formal agreement will ultimately be signed, nor that any transaction will be initiated or completed. This letter does not constitute a legally binding obligation, offer, or commitment on the part of either party. Unless and until a formal written acquisition agreement is fully signed, any past, present, or future expression of intent, proposal, discussion, or course of action will not result in any legally binding contract or obligation to proceed with or complete the proposed transaction. Any proposed transaction will be subject to applicable laws and regulatory requirements, completion of due diligence, financing considerations, required approvals, and other customary conditions.

This communication is for informational purposes only and does not constitute an offer to buy or sell. Furthermore, it does not constitute an offer to purchase any securities or a solicitation to sell any securities. This communication relates to the proposal for the business merger transaction between Solidion and Flux. This communication cannot replace any proxy statements, registration statements, tender offers, prospectuses, or other documents that the parties may submit to the U.S. Securities and Exchange Commission (SEC) regarding the proposed transaction. This document does not constitute an offer to sell securities or a solicitation to purchase securities, and in any jurisdiction where such an offer, solicitation, or sale would be illegal before the completion of the registration or qualification requirements stipulated by securities laws, no securities sales may be conducted in that jurisdiction. If the transaction is initiated, Solidion expects to submit the applicable materials to the U.S. Securities and Exchange Commission. Investors and security holders are advised to read the relevant materials carefully and completely when 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”) wishes to take advantage of the safe harbor provisions of that act, and therefore includes this cautionary statement herein. Words such as “predicts”, “believes”, “may”, “estimates”, “continues”, “expects”, “intends”, “should”, “plans”, “can”, “aims”, “potential”, “likely”, “anticipates”, and similar expressions related to the Company are intended to identify forward-looking statements. Except as required by law, we have no obligation to publicly update any forward-looking statements due to new information, future developments, or other reasons.

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