Polar Power issues USD 600,000 6% convertible note to CFI Capital

Polar Power, Inc.

Polar Power, Inc.

POLA

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  • Polar Power entered securities purchase agreements on May 21, 2026 for 6% convertible redeemable notes totaling USD 970,600.
  • Net proceeds were USD 807,100, with USD 500,000 from a USD 600,000 note sold to CFI Capital and USD 307,100 from a USD 370,600 note sold to Monroe Street Capital Partners.
  • Each note matures in 12 months, with conversion allowed on or after six months at 80% of the lowest daily VWAP over the prior 10 trading days.
  • The conversion discount steps up to 65% with a 20-day lookback if the stock is delisted from Nasdaq.
  • A side letter requires shareholder approval within 60 days to issue shares above the 19.99% exchange cap.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Polar Power Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001493152-26-025091), on May 22, 2026, and is solely responsible for the information contained therein.

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