Polar Power, Inc.: reports regained Nasdaq equity compliance of $2,900,000

What happened
Polar Power, Inc. filed an 8-K reporting that it believes it has regained compliance with Nasdaq Listing Rule 5550(b)(1) after a series of financings and conversions that increased its stockholders’ equity to approximately $2,900,000. The company said it received a Nasdaq deficiency letter on May 1, 2026, was granted an extension on Jun 29, 2026 to demonstrate compliance by Oct 28, 2026, and completed transactions between May and Oct 2026 that the company says brought equity above the $2,500,000 minimum.

Key details

• Convertible redeemable notes issued May 21, 2026: $600,000 to CFI Capital LLC (net proceeds about $500,000) and $370,600 to Monroe Street Capital Partners, LP (net proceeds about $307,100); Monroe converted portions on Oct 21, 2026 and Oct 22, 2026, increasing equity by $164,100.
• Series A convertible preferred stock private placements with LU2 Holdings LLC and others between Jul 21, 2026 and Oct 19, 2026 added $1,175,200 to equity and included warrants to purchase common stock.
• Common stock purchase arrangement with Roth Principal Investments (up to $25,000,000) resulted in issuance of 776,148 shares for net proceeds of $989,181, increasing equity by $989,181.
• Other conversions and financings (Aug 5, Aug 28, Sep 14, Sep 23, Oct 14, Oct 19, Oct 20 and Oct 22, 2026) including conversions by the founder Arthur D. Sams increased equity by amounts the filing lists, and the company reports preliminary pro forma stockholders’ equity of approximately $2,900,000.

Why it may matter
This item is reported under Item 3.01: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard, which covers Nasdaq listing compliance with the stockholders’ equity requirement in Nasdaq Listing Rule 5550(b)(1). The filing states the amounts above are preliminary, unaudited and subject to revision, and that Nasdaq will continue to monitor compliance and may delist the company if future reports do not evidence compliance. This filing does not show why the insider traded or why the company acted.