Polar Power gets $2.5M revolving loan at 12%; two directors resign, three lender-nominated directors appointed

Polar Power, Inc.

Revolving credit facility up to $2.5M, 12% interest, one-year maturity; lender has sole discretion on draws.
Proceeds for general corporate purposes, including financing a qualified public equity offering up to $6M.
Directors Keith Albrecht and Katherine Koster resign effective May 19, 2026.
Lender-nominated directors David Piedra, Steven Brown, Angel Liriano appointed to board.
Loan default amount set at 105% of outstanding principal and accrued interest.

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