---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-023191"
form_type: "8-K"
ticker: "POLA"
cik: "0001622345"
company_name: "Polar Power, Inc."
filed_at: "2026-05-14T21:21:18+00:00"
generated_at: "2026-05-14T21:22:34.886096+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-26-023191
- form_type: 8-K
- ticker: POLA
- cik: 0001622345
- company_name: Polar Power, Inc.
- filed_at: 2026-05-14T21:21:18+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1622345/000149315226023191/0001493152-26-023191-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1622345/000149315226023191/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-023191
- JSON: https://secwatch.observer/filing/0001493152-26-023191.json
- Plain text: https://secwatch.observer/filing/0001493152-26-023191.txt

## Key facts
- Debt Financings
  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
  source text: 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%.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1622345/000149315226023191/0001493152-26-023191-index.htm
- Executive change
  Katherine Koster resigned as Director at Polar Power, Inc..
  - Action: resigned
  - Role: Director
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1622345/000149315226023191/0001493152-26-023191-index.htm
- Executive change
  Keith Albrecht resigned as Director at Polar Power, Inc..
  - Action: resigned
  - Role: Director
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1622345/000149315226023191/0001493152-26-023191-index.htm
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1622345/000149315226023191/0001493152-26-023191-index.htm

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