Polar Power, Inc. - Common Stock (POLA)

As investors continue searching for companies positioned to benefit from expanding demand across AI infrastructure, energy, industrial technology, and global infrastructure, several emerging growth companies are announcing strategic partnerships, commercialization milestones, and capital initiatives that could support future growth.

Polar Power (NASDAQ: POLA) recently announced the pricing of its underwritten public offering of 4,000,000 shares of its common stock. Each share of common stock is being sold at a public offering price of $0.40 for gross proceeds of $1,600,000. All of the shares of common stock are being offered by the company. In addition, Polar Power granted the underwriters a 45-day option to purchase up to an additional 600,000 shares of its common stock and/or pre-funded warrants at the public offering price less discounts and commissions, to cover over-allotments. Subject to the satisfaction of customary conditions, the offering is expected to close on Dec. 5, 2023. ThinkEquity is acting as sole underwriter for the offering.

GARDENA, CA, Nov. 14, 2022 (GLOBE NEWSWIRE) -- Polar Power, Inc. (“Polar Power” or the “Company”) (NASDAQ: POLA), a global provider of prime, backup and solar hybrid DC power solutions, today reported its financial results for the three and nine months ended September 30, 2022.