Flux Power Holdings, which manufactures and sells lithium-ion batteries and storage solutions, has postponed its plans for an IPO. It had filed in July 2019 to raise $13 million by offering 1.4 million shares at a price of $9. Flux Power is currently listed on the OTC (FLUX) and last closed at $10.
The Vista, CA-based company was founded in 1998 and booked $7 million in sales for the 12 months ended March 31, 2019. It had planned to list on the Nasdaq under the symbol FLUX. Roth Capital and Maxim Group LLC were set to be the joint bookrunners on the deal.
The article Battery manufacturer Flux Power postpones $13 million Nasdaq uplisting originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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