secwatch.observer — SEC 8-K summary
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Issuer:     Polar Power, Inc. (POLA)
CIK:        0001622345
Form:       8-K
Filed at:   2023-05-26T23:59:59+00:00
Accession:  0001493152-23-019368
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Polar Power increases revolving credit facility to $6M and obtains $146K term loan
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1622345/000149315223019368/0001493152-23-019368-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1622345/000149315223019368/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-019368

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