Flux Power settles $565,000 of $4 million private placement of units

Company sells units of 1,207,185 common shares and 241,437 warrants

By Devika Patel

Knoxville, Tenn., July 3 - Flux Power Holdings Inc. settled a $565,000 tranche of a $4 million private placement of units on June 26, according to an 8-K filed Tuesday with the Securities and Exchange Commission. The deal raised $600,000 on June 22.

The company is selling 8 units of 1,207,185 common shares and warrants for 241,437 shares at $500,000 per unit. It sold 1.2 units in the initial tranche and 1.13 units in the second.

The warrants are exercisable at $0.41 for five years. The strike price is an 82.17% discount to the June 22 closing share price of $2.30.

The shell company is based in New York. Its operating subsidiary, Flux Power, Inc., manufacturers energy storage systems.

Issuer:	Flux Power Holdings Inc.
Issue:	Units of 1,207,185 common shares and warrants for 241,437 shares
Amount:	$4 million
Units:	8
Price:	$500,000
Warrants:	Warrants for 241,437 shares per unit
Warrant expiration:	Five years
Warrant strike price:	$0.41
Settlement date:	June 22 (for $600,000), June 29 (for $565,000)
Stock symbol:	OTCBB: FLUX
Stock price:	$2.30 at close June 22

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