other material
confidence high
sentiment neutral
materiality 0.50
Polar Power creates Series A Convertible Preferred Stock with 10% dividend and VWAP-based conversion
Polar Power, Inc.
- 25,000 shares of Series A Convertible Preferred authorized, $1,000 stated value per share.
- Dividend accrues monthly at 10% per annum; convertible into common stock at market conversion price.
- Conversion price equals 90% of lowest VWAP over 7 consecutive trading days preceding measurement date (lowest of three dates).
- No shares have been issued or sold as of filing date; COD filed with Delaware on July 10, 2026.