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Flux Power Holdings to Conduct Reverse Stock Split

Flux Power Holdings Inc. of Vista said it plans to conduct a reverse stock split on Aug. 18.

The business plans to issue one share for every 10. On the day before the event, Aug. 17, the stock was valued at 4½ cents per share. Flux Power (OTCQB: FLUX) has a market capitalization of $11.28 million.

The company makes lithium-ion batteries for small vehicles such as forklifts and airport ground support equipment.

Flux said that it implemented the reverse split “to increase the number of authorized shares available for Flux to fund its future growth and working capital needs as it works to ramp adoption and sales of its industrial lithium-ion batteries.

“Including issued and outstanding common stock and underlying warrants and options, Flux had reached the limit of its authorized shares. The increase in authorized shares was accomplished by reducing Flux’s issued and outstanding share count via the reverse split, while holding unchanged the company’s total share authorization.”

Flux stock trades over the counter. Following the event it will have a temporary trading symbol of FLUXD. Shares will revert to their original symbol in 20 business days.

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