Polar Power confirms Nasdaq equity compliance, targets ~$2M annualized savings in Phase 2 restructuring

Polar Power, Inc.

Nasdaq confirmed POLA meets the $2.5M minimum stockholders' equity requirement under Rule 5550(b)(1), based on its Oct. 23, 2026 Form 8-K.
Nasdaq cautioned Polar must show continued compliance in its next periodic report and could face delisting proceedings if it fails.
Phase 1 restructuring delivered ~$1.03M in annualized cost cuts; management targets ~$2M total annualized savings including Phase 1.
Phase 2 will focus on further California facility consolidation, lower fixed overhead and production coordination, led by Co-CEO Chris Mayer.
Polar is evaluating refinancing and other capital-raising options to improve liquidity and manage outstanding obligations while rebuilding sales.

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