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.
