Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Polar Power, Inc. incurred revolving credit of $2,500,000 with Stone Brothers Capital at 12% maturing the first anniversary of the closing date of the Loan Agreement.
- Instrument
- revolving credit
- Principal
- $2,500,000
- Counterparty
- Stone Brothers Capital
- Rate
- 12%
- Maturity
- the first anniversary of the closing date of the Loan Agreement
- Event
- incurrence
Exact text from the filing
On May 13, 2026, Polar Power, Inc. (the “Company”) entered into a Revolving Loan Agreement (the “Loan Agreement”) with Stone Brothers Capital (the “Lender”). The Loan Agreement provides for a revolving credit facility under which the Lender may, in its sole discretion upon the request of the Company, make loans (the “Loans”) to the Company, in an aggregate principal amount at any one time outstanding not to exceed $2,500,000. Each Loan shall bear interest accruing at an annual rate of 12%.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Katherine Koster resigned as Director at Polar Power, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
On May 14, 2026, Keith Albrecht and Katherine Koster, two of the Company’s independent directors, resigned as members of the Board of the Company, effective May 19, 2026.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Keith Albrecht resigned as Director at Polar Power, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
On May 14, 2026, Keith Albrecht and Katherine Koster, two of the Company’s independent directors, resigned as members of the Board of the Company, effective May 19, 2026.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Polar Power, Inc. entered into Revolving Loan Agreement with Stone Brothers Capital valued at $2,500,000 (effective 2026-05-13).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Stone Brothers Capital
- Value
- $2,500,000
- Effective
- 2026-05-13
Exact text from the filing
On May 13, 2026, Polar Power, Inc. (the “Company”) entered into a Revolving Loan Agreement (the “Loan Agreement”) with Stone Brothers Capital (the “Lender”). The Loan Agreement provides for a revolving credit facility under which the Lender may, in its sole discretion upon the request of the Company, make loans (the “Loans”) to the Company, in an aggregate principal amount at any one time outstanding not to exceed $2,500,000.
View on SEC.gov