Polar Power, Inc. 8K

Polar Power, Inc. created a new Series A Convertible Preferred Stock with defined dividend, conversion, voting, preference, anti‑dilution, and redemption rights and authorized its issuance under a July 10, 2026 Securities Purchase Agreement.

On July 9, 2026, the board of directors of Polar Power, Inc. unanimously approved, by written consent, a Certificate of Designation establishing a new series of equity securities designated as Series A Convertible Preferred Stock, authorizing 25,000 shares (par value $0.0001) with 1,945 shares to be issued under a July 10, 2026 Securities Purchase Agreement, and setting forth detailed terms including a $1,000 stated value, a 10% in‑kind dividend, senior liquidation preference, optional conversion into common stock at a market-based price subject to a floor and Nasdaq exchange cap, voting rights (including election of an investor-designated independent director), anti‑dilution and adjustment provisions, and an issuer call right to redeem the preferred at 115% of stated value plus accrued dividends.

Filing Facts

CIK

1622345

Ticker

-

Form

8K

Source Type

sec

Accession

0001493152-26-033591

Alert Tier

6