secwatch.observer — SEC 8-K summary
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Issuer:     Polar Power, Inc. (POLA)
CIK:        0001622345
Form:       8-K
Filed at:   2024-11-21T23:59:59+00:00
Accession:  0001493152-24-047181
Event type: regulatory
Sentiment:  negative
Materiality: 0.90
Item codes: 3.01, 3.03, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Polar Power receives Nasdaq delisting notice for bid price non-compliance; 1:7 reverse split effective Nov 18
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- Nasdaq notified Polar Power on Nov 19, 2024, of delisting due to failure to meet $1 minimum bid price by deadline.
- Company intends to appeal delisting determination to Nasdaq hearings panel by Nov 26, 2024 deadline.
- Effected a 1:7 reverse stock split on Nov 18, 2024, to try to regain compliance; shares trade split-adjusted from Nov 19.
- Outstanding shares reduced from 17,561,612 to 2,511,350 (after rounding up fractional shares).
- Authorized shares remain at 50,000,000; stock symbol unchanged (POLA); new CUSIP 73102V204.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1622345/000149315224047181/0001493152-24-047181-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1622345/000149315224047181/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-047181

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