Polar Power, Inc. (POLA) Form 8-K — Oct 23, 2026
Polar Power (POLA) filed an 8-K asserting it has regained compliance with Nasdaq's $2.5 million minimum stockholders' equity rule, citing preliminary pro forma equity of approximately $2.9 million ahead of the October 28, 2026 compliance deadline. Compliance was achieved through a rapid series of financings: 6% convertible notes to CFI Capital and Monroe Street Capital, roughly $2.19 million of Series A Convertible Preferred sold to LU2 Holdings, CL Investment, and CEO Arthur Sams, and an equity line of credit with Roth Principal Investments of up to $25 million ($989k drawn to date).
Key figures
- Minimum Equity Requirement
- $2,500,000
- Pro Forma Stockholders Equity
- $2.9 million
- Eloc capacity
- $25,000,000
- Cfi net proceeds
- $500,000
- Cfi note principal
- $600,000
- Compliance deadline
- 2026-10-28
- Monroe net proceeds
- $307,100
- Monroe note principal
- $370,600
- Deficiency letter date
- 2026-05-01
- Eloc net proceeds to date
- $989,181
- Notes equity increase cl lu2
- $200,200
- Series a stated value issued
- $2,188,000
- Notes equity increase eloc roth
- $989,181
- Notes equity increase cfi monroe
- $164,100
- Notes equity increase arthur sams
- $775,976
- Notes equity increase series a lu2
- $1,175,200
- Notes equity increase cl lu2 convert
- $137,312
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