---
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"
generated_at: "2026-06-10T21:42:54.316115+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Polar Power expands revolving credit facility to $7.5M via Fifth Modification with Pinnacle Bank

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-032256
- JSON: https://secwatch.observer/filing/0001493152-23-032256.json
- Plain text: https://secwatch.observer/filing/0001493152-23-032256.txt

## Key facts
- Debt Financings
  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.
  - Instrument: revolving credit
  - Principal: increased the aggregate advance limit under the credit facility from $6.0 million to $7.5 million
  - Counterparty: Pinnacle Bank
  - Maturity: September 30, 2024
  - Event: amendment
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1622345/000149315223032256/0001493152-23-032256-index.htm
- Debt Financings
  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.
  - Instrument: revolving credit
  - Principal: Increase the lesser of (i) 35% of the lower of cost or wholesale market value of certain inventory of the Company or (ii
  - Counterparty: Pinnacle Bank
  - Event: amendment
  source text: Loan Agreement”) with Pinnacle Bank (“Pinnacle”). The Loan Agreement has been amended four times. The Loan Agreement,
  evidence_url: https://www.sec.gov/Archives/edgar/data/1622345/000149315223032256/0001493152-23-032256-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.