---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-025091"
form_type: "8-K"
ticker: "POLA"
cik: "0001622345"
company_name: "Polar Power, Inc."
filed_at: "2026-05-22T21:29:08+00:00"
generated_at: "2026-05-22T21:31:29.059113+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Polar Power issues $970.6K convertible notes, hires Mammoth Crest for restructuring, settles landlord eviction

## Summary
- Issued two 6% convertible notes totaling $970.6K principal; net proceeds $807.1K; conversion at 80% of 10-day VWAP.
- Hired Mammoth Crest Capital to lead operational restructuring; pays $500K fee plus 4.5% equity; Board expands to 7 with two MCC appointees.
- Paid $755K to settle landlord dispute and regain HQ access; $92.4K/month rent through April 2027; warehouse to vacate by Aug 31, 2026.
- Terminated Stone Brothers Capital revolving loan agreement (no loans drawn).
- Director Keith Albrecht rescinded resignation; Katherine Koster resigned effective May 19, 2026.

## SEC filing metadata
- accession: 0001493152-26-025091
- form_type: 8-K
- ticker: POLA
- cik: 0001622345
- company_name: Polar Power, Inc.
- filed_at: 2026-05-22T21:29:08+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 3.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1622345/000149315226025091/0001493152-26-025091-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1622345/000149315226025091/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-025091
- JSON: https://secwatch.observer/filing/0001493152-26-025091.json
- Plain text: https://secwatch.observer/filing/0001493152-26-025091.txt

## Source-grounded claims
- claim_id: a17298d411
  claim: Katherine Koster resigned as Director at Polar Power, Inc..
  evidence_excerpt: 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/1622345/000149315226025091/0001493152-26-025091-index.htm

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