- Flux Power Holdings Inc (NASDAQ:FLUX) has expanded the available credit under its existing facility with Silicon Valley Bank.
- The amended agreement expands the available capacity of the facility from $8 million to $14.0 million.
- The facility will support higher working capital requirements related to increased customer demand. The fourth amendment includes but is not limited to increasing the amount.
- “We are pleased to have entered into this amended credit facility providing $6.0 million in increased availability on our asset-based lending line, providing the additional cash to fund the inventory and receivables needed to meet our targeted growth goals,” said CEO Ron Dutt.
- Flux Power designs, manufactures, and sells advanced lithium-ion energy storage solutions for electrification of various industrial and commercial sectors, including material handling, airport ground support equipment (GSE), and stationary energy storage.
- Price Action: FLUX shares are trading flat at $4.86 on the last check Friday.
- Photo Via Company
IPO Previews For The Week
With the start of a new week comes the excitement surrounding a new set of companies looking to make an impact through their public offerings. According to Benzinga Pro, these enticing companies are scheduled to trade publicly this week.
