Flux Power Holdings, which manufactures and sells lithium-ion batteries and storage solutions, raised $11 million by offering 2.7 million shares at $4, well below the $8.15 last close of its shares on the OTCQB (FLUX). At pricing, the company commands a market value of $44 million. Because its market cap is below $50 million, the company will be excluded from Renaissance Capital's stats.
Flux Power Holdings plans to list on the Nasdaq under the symbol FLUX. Roth Capital and National Securities acted as lead managers on the deal.
