Flux Power Holdings, Inc. announced that it has secured a new $15.0 million credit facility from Gibraltar Business Capital to fund working capital and to refinance its existing credit facility with Silicon Valley Bank. The $15.0 million credit facility is designed for working capital needs, as well as the repayment of an existing credit facility with SVB. The interest rate on this new facility is tied to the Secured Overnight Financing Rate plus 5.50% per annum.

The facility is secured by the existing assets of the Company, matures on July 28, 2025, and includes no warrants. The agreement allows the Company to increase the facility to $20.0 million, in $1.0 million or greater increments, at the Company?s request subject to approval by GBC. The Company has also chosen to work with Bank of America for cash management and other operational banking services.