{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-23-032256","form_type":"8-K","ticker":"POLA","cik":"0001622345","company_name":"Polar Power, Inc.","filed_at":"2023-09-11T23:59:59+00:00","discovered_at":"2026-05-14T18:03:34.595240+00:00","generated_at":"2026-06-10T21:42:54.316115+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Polar Power expands revolving credit facility to $7.5M via Fifth Modification with Pinnacle Bank","bullets":["Total advance limit increased from $6.0M to $7.5M under the revolving credit facility.","Inventory advance limit raised from $2.5M to $4.0M; advance rate increased from 35% to 40% of eligible inventory.","AT&T accounts receivable aging period extended from 90 to 120 days for eligibility.","Borrower paid $22,500 fee (1.5% of inventory limit increase) plus $500 documentation fee.","Fifth Modification includes customary terms, reaffirmations, and release of claims by borrower."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-23-032256","json":"https://secwatch.observer/filing/0001493152-23-032256.json","markdown":"https://secwatch.observer/filing/0001493152-23-032256.md","text":"https://secwatch.observer/filing/0001493152-23-032256.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1622345/000149315223032256/0001493152-23-032256-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1622345/000149315223032256/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-10T21:42:54.316115+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":"2e0172ff1bffdc647c3a5b2b833f38d5ea23117e","claim":"Polar Power, Inc. amended revolving credit of increased the aggregate advance limit under the credit facility from $6.0 million to $7.5 million with Pinnacle Bank maturing September 30, 2024.","evidence_excerpt":"of certain inventory of the Company or (ii) $2.5 million. In no event will the aggregate amount of the outstanding advances under the revolving credit facility be greater than $6 million. The Loan Agreement’s initial term ended on August 30, 2022 and has been renewed for two additional one-year terms with an expiration date of September 30, 2024.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1622345/000149315223032256/0001493152-23-032256-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"increased the aggregate advance limit under the credit facility from $6.0 million to $7.5 million"},{"label":"Counterparty","value":"Pinnacle Bank"},{"label":"Maturity","value":"September 30, 2024"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"8f9476243cdbda60ee6543d89f68f7ed6ab7f811","claim":"Polar Power, Inc. amended revolving credit of Increase the lesser of (i) 35% of the lower of cost or wholesale market value of certain inventory of the Company or (ii with Pinnacle Bank.","evidence_excerpt":"Loan Agreement”) with Pinnacle Bank (“Pinnacle”). The Loan Agreement has been amended four times. The Loan Agreement,","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1622345/000149315223032256/0001493152-23-032256-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"Increase the lesser of (i) 35% of the lower of cost or wholesale market value of certain inventory of the Company or (ii"},{"label":"Counterparty","value":"Pinnacle Bank"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}