{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-23-019368","form_type":"8-K","ticker":"POLA","cik":"0001622345","company_name":"Polar Power, Inc.","filed_at":"2023-05-26T23:59:59+00:00","discovered_at":"2026-05-14T18:03:39.710499+00:00","generated_at":"2026-06-14T13:04:52.005870+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.4,"calibrated_materiality_score":0.4,"confidence":"high","headline":"Polar Power increases revolving credit facility to $6M and obtains $146K term loan","bullets":["Third Modification adds $146,000 term loan from Pinnacle Bank dated April 13, 2023.","Fourth Modification raises revolving credit facility limit from $4M to $6M as of May 25, 2023.","Concentration percentage for AT&T and Verizon accounts increased from 50% to 75%.","Line increase fee of $30,000 (1.5% of $2M) paid to Pinnacle Bank."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-23-019368","json":"https://secwatch.observer/filing/0001493152-23-019368.json","markdown":"https://secwatch.observer/filing/0001493152-23-019368.md","text":"https://secwatch.observer/filing/0001493152-23-019368.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1622345/000149315223019368/0001493152-23-019368-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1622345/000149315223019368/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-14T13:04:52.005870+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"329ce10c9688d3b3f553fdecc14eee78db384fb8","claim":"Polar Power, Inc. incurred term loan of $146,000 with Pinnacle Bank.","evidence_excerpt":"On April 13, 2023, the Company entered into a Third Modification to Loan and Security Agreement (the “Third Modification”) by and between the Company and Pinnacle under which the parties agreed to add a new section 2.13 which provides that Pinnacle shall lend to the Company the principal sum of $146,000.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1622345/000149315223019368/0001493152-23-019368-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$146,000"},{"label":"Counterparty","value":"Pinnacle Bank"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"4d5a55bd5011ec5a6fcd7586d3247960db29185e","claim":"Polar Power, Inc. amended revolving credit of $6 million with Pinnacle Bank.","evidence_excerpt":"On May 25, 2023, the Company entered into a Fourth Modification to Loan and Security Agreement (the “Fourth Modification”) by and between the Company and Pinnacle under which the parties (a) agreed to amend the amount of available advances under the Loan Agreement such that the aggregate amount of the outstanding advances under the revolving credit facility may not be greater than $6 million","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1622345/000149315223019368/0001493152-23-019368-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"$6 million"},{"label":"Counterparty","value":"Pinnacle Bank"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"26edcc6f0b9f90372b4209e3e5d5cb4040bf916a","claim":"Polar Power, Inc. amended Third Modification to Loan and Security Agreement with Pinnacle Bank valued at $146,000 (effective 2023-04-13).","evidence_excerpt":"On April 13, 2023, the Company entered into a Third Modification to Loan and Security Agreement (the “Third Modification”) by and between the Company and Pinnacle under which the parties agreed to add a new section 2.13 which provides that Pinnacle shall lend to the Company the principal sum of $146,000.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1622345/000149315223019368/0001493152-23-019368-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Pinnacle Bank"},{"label":"Value","value":"$146,000"},{"label":"Effective","value":"2023-04-13"}],"fact_type":"material_agreement"},{"claim_id":"78457a9611fa57c15a0d7f159d3faba733bed45b","claim":"Polar Power, Inc. amended Fourth Modification to Loan and Security Agreement with Pinnacle Bank valued at $6 million (effective 2023-05-25).","evidence_excerpt":"On May 25, 2023, the Company entered into a Fourth Modification to Loan and Security Agreement (the “Fourth Modification”) by and between the Company and Pinnacle under which the parties (a) agreed to amend the amount of available advances under the Loan Agreement such that the aggregate amount of the outstanding advances under the revolving credit facility may not be greater than $6 million, and (b) raised the concentration percentage applicable to certain Tier-1 telecommunication customers from 50% to 75% in the definition of Eligible Accounts.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1622345/000149315223019368/0001493152-23-019368-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Pinnacle Bank"},{"label":"Value","value":"$6 million"},{"label":"Effective","value":"2023-05-25"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}