Financing ·
Polar Power, Inc. established a series of Series A Convertible Preferred Stock with a stated value of $1,000 per share…
POLAPolar Power, Inc.
Polar Power, Inc. established a series of Series A Convertible Preferred Stock with a stated value of $1,000 per share and 25,000 shares reserved for issuance. The preferred stock carries a monthly accruing dividend at an annual rate of 10% and is convertible into common stock at a market conversion price equal to 90% of the lowest seven-day VWAP across three specific measurement dates. The company has not yet issued or sold any of these shares. Polar Power, Inc. is a technology company focused on power solutions.