secwatch.observer — SEC 8-K summary
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Issuer:     Polar Power, Inc. (POLA)
CIK:        0001622345
Form:       8-K
Filed at:   2023-12-05T23:59:59+00:00
Accession:  0001493152-23-043742
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Polar Power closes public offering of 4.6M shares at $0.40, raising $1.84M gross
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- Offering of 4,000,000 shares upsized to 4,600,000 shares after underwriter exercised over-allotment in full.
- Gross proceeds of $1,840,000; net proceeds ~$1.5 million after underwriting discounts and expenses.
- ThinkEquity LLC acted as sole underwriter; offering closed on December 5, 2023.
- Proceeds to be used for general corporate purposes, including working capital, R&D, and potential acquisitions.
- Shares sold at $0.40 per share, representing a dilutive equity raise for existing shareholders.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1622345/000149315223043742/0001493152-23-043742-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1622345/000149315223043742/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-043742

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