Flux Power Boosts Credit Capacity With Silicon Valley Bank

  • Flux Power Holdings Inc 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
Market News and Data brought to you by Benzinga APIs
Posted In: NewsPenny StocksFinancingGeneralBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!