secwatch.observer — SEC 8-K summary
======================================

Issuer:     Polar Power, Inc. (POLA)
CIK:        0001622345
Form:       8-K
Filed at:   2026-07-07T21:25:42+00:00
Accession:  0001493152-26-032382
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Polar Power issues $275K convertible note to Mayers Ventures with 10% OID and board seat
--------------------------------------------------------------------------------

- Issued $275,000 convertible promissory note to Mayers Ventures LLC; consideration $250,000 (10% OID).
- Interest 10% per annum, PIK; maturity December 30, 2027; prepayment at 115% of principal.
- Conversion price: 90% of lowest daily VWAP in prior 7 trading days, subject to floor price.
- Mayers Ventures gets right to designate one board member.
- Proceeds for working capital and general corporate purposes; note initially unsecured, may become secured.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1622345/000149315226032382/0001493152-26-032382-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1622345/000149315226032382/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-032382

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer