Polar Power, Inc. (POLA) Prices 750K Share Common Offering at $18/Sh
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Polar Power, Inc. (NASDAQ: POLA) today announced the pricing of its previously announced underwritten public offering of 750,000 shares of its common stock at a public offering price of $18.00 per share, for gross proceeds of $13,500,000 before deducting underwriting discounts, commissions and offering expenses. All of the shares of common stock are being offered by the Company.
The offering is expected to close on February 10, 2021, subject to satisfaction of customary closing conditions.
ThinkEquity, a division of Fordham Financial Management, Inc., is acting as sole book-running manager for the offering.
The securities will be offered and sold pursuant to a shelf registration statement on Form S-3 (File No. 333-252196), including a base prospectus, filed with the U.S. Securities and Exchange Commission (the “SEC”) on January 19, 2021 and declared effective on January 28, 2021.
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