Polar Power, Inc.

Snapshot

Polar Power makes DC power generators for telecom and defense customers, but FY 2025 revenue fell 55% to $6.3 million and the company lost $9.1 million, more than the entire revenue base.

What's Happening Right Now

• Mon 19th Oct '26 · Restructuring: Polar Power completed Phase 1 of a restructuring cutting about $1.03 million in annualized costs, while pointing to a $4.5 million sales backlog and a 50-unit telecom trial order as it tries to convert backlog into cash.
• Fri 16th Oct '26 · Reverse split approved: On October 14, 2026, stockholders approved a board-discretion reverse split of 1-for-3 to 1-for-20 (the company's second in two years) along with authority to issue over 19.99% of shares in non-public financings below Nasdaq minimums.
• Mon 12th Oct '26 · Co-CEO added: Polar Power named Chris Mayer as Co-CEO overseeing public-company, strategy and finance duties, with Arthur Sams staying on as Co-CEO focused on sales, engineering and manufacturing.
• Mon 5th Oct '26 · Rejected offer: Polar Power's board rejected an undisclosed all-cash proposal from Solidion to buy all of the company's assets, saying it undervalued the business, while staying open to other strategic alternatives.
• Mon 28th Sep '26 · CEO debt conversion: CEO Arthur Sams converted $614,700 of promissory notes into Series A Convertible Preferred stock plus warrants, retiring most of his outstanding notes in a related-party deal meant to help the company meet Nasdaq's equity requirement.
• Fri 25th Sep '26 · Dilution/delisting: Polar Power has stacked multiple filings registering resale shares (most recently 8,653,774 shares, over 200% of shares outstanding) from deeply discounted convertible notes, Series A Preferred and a $25 million Roth equity facility, while disclosing going-concern doubt and a Nasdaq stockholders'-equity deadline of October 28, 2026.
• Tue 18th Aug '26 · Going concern: The Q2 2026 10-Q disclosed going-concern doubt, a 62% YoY sales decline to $1.0 million, just $183,000 of cash after burning $2.17 million in six months, an expired Pinnacle Bank forbearance on a $2.73 million credit line, and a prior eviction from its headquarters over unpaid rent.