Polar Power, Inc. (POLA) Form 8-K — Aug 11, 2026
Polar Power closed a subsequent financing tranche on August 5, 2026, issuing 1,111 shares of Series A Convertible Preferred Stock to CL Investment Group LLC and LU2 Holdings LLC for gross proceeds of $999,700. The preferred was sold at 90% of its $1,000-per-share stated value, with $749,700 coming from CL Investment and $250,000 from LU2. The terms are heavily dilutive: the preferred accrues a 10% annual dividend and converts into common stock at 90% of the lowest 7-day VWAP prior to conversion, subject to a floor price.
Key figures
- Gross Proceeds
- 999700
- Exchange Cap
- 19.99% of outstanding common stock absent stockholder approval
- Warrant Term
- 3 years, immediately exercisable, cashless exercise permitted
- Dividend Rate
- 10% per annum, accruing monthly
- Lu2 Stated Value
- 278000
- Lu2 Subscription
- 250000
- Stated Value Per Share
- 1000
- Warrant Exercise Price
- 1.65
- Preferred Shares Issued
- 1111
- Conversion Price Formula
- 90% of lowest 7-consecutive-trading-day VWAP, subject to COD floor price
- Cl Investment Stated Value
- 833000
- Beneficial Ownership Limit
- 9.99%
- Cl Investment Subscription
- 749700
- Resale Registration Deadline
- Form S-1 (or S-3) within 30 days of execution date
- Purchase Price Pct Of Stated Value
- 90%
- Preferred Shares Outstanding After Closing
- 1611
- Shares Reserved For Conversion And Warrants
- 13079300
Price after filing
Close on the filing date to close N calendar days later (from $1.79). Historical, not a forecast.
AI analysis
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.