Flux Power Holdings, which manufactures and sells lithium-ion batteries and storage solutions, announced terms for its IPO on Monday.
The Vista, CA-based company plans to raise $13 million by offering 1.4 million shares at a price of $9, the last close of its shares listing on the OTCQB. At $9, Flux Power Holdings would command a market value of $59 million.
Flux Power Holdings was founded in 1998 and booked $7 million in sales for the 12 months ended March 31, 2019. It plans to list on the Nasdaq under the symbol FLUX. Roth Capital and Maxim Group LLC are the joint bookrunners on the deal.
