secwatch.observer — SEC 8-K summary
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Issuer:     Polar Power, Inc. (POLA)
CIK:        0001622345
Form:       8-K
Filed at:   2026-08-11T21:25:34+00:00
Accession:  0001493152-26-037198
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Polar Power raises $999,700 via Series A Convertible Preferred sale to CL Investment and LU2
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- Closed Aug 5, 2026: issued 1,111 Series A Convertible Preferred shares for $999,700 gross proceeds (90% of $1,000 stated value).
- Warrants issued: CL Investment 227,182 shares, LU2 75,758 shares, both at $1.65, 3-year term, cashless exercise.
- Convertible Preferred pays 10% annual dividend; converts at 90% of 7-day VWAP, subject to COD floor price.
- After closing, 1,611 preferred shares outstanding; 9.99% beneficial ownership limitation applies.
- Company to file S-1/S-3 resale registration within 30 days per Registration Rights Agreements.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1622345/000149315226037198/0001493152-26-037198-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1622345/000149315226037198/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-037198

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