Item 1.01 Entry into a Material Definitive Agreement

On October 29, 2021, Flux Power, Inc. ("Flux"), a wholly-owned subsidiary of Flux Power Holdings, Inc. (the "Registrant" and together with Flux, the "Company"), and the Registrant entered into a First Amendment to Loan and Security Agreement ("First Amendment") with Silicon Valley Bank ("SVB"), which amended certain terms of the Loan and Security Agreement dated November 9, 2020 including but not limited to, the amount of the revolving line of credit from $4.0 million to $6.0 million and the maturity date to November 7, 2022. Pursuant to the First Amendment, the Company agreed to pay SVB a non-refundable commitment fee of $22,500.

The foregoing description of the First Amendment does not purport to be a complete description of the terms and is qualified in its entirety by reference to the full text of the First Amendment, which is attached hereto as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

The information disclosed in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

Item 9.01 Financial Statements and Exhibits





(d) Exhibits.



Exhibit No.   Exhibit Description

10.1            First Amendment to Loan and Security Agreement with Silicon Valley
              Bank




2

© Edgar Online, source Glimpses