Polar Power, Inc. (POLA) prices 4M shares at $0.40 each

Polar Power, Inc. (NASDAQ: POLA) announced the pricing of its previously announced underwritten public offering of 4,000,000 shares of its common stock. Each share of common stock is being sold at a public offering price of $0.40 per share, for gross proceeds of $1,600,000 before deducting underwriting discounts, commissions and offering expenses. All of the shares of common stock are being offered by the Company.

In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 600,000 shares of its common stock and/or pre-funded warrants at the public offering price less discounts and commissions, to cover over-allotments. The offering is expected to close on December 5, 2023, subject to satisfaction of customary closing conditions.

ThinkEquity is acting as sole underwriter for the offering.

You May Also Be Interested In

• Polar Power Announces MSI Defense Solutions’ Adoption of Its DC Generator for EAGLS™
• Polar Power DC generator integrated into MSI anti-drone system
• Simply Solventless files Q2 2026 financials amid restructuring process