Corporate ActionJul 16, 2026, 05:31 PM
Polar Power Establishes Series A Convertible Preferred Stock
AI Summary
Polar Power, Inc. has established a new series of preferred stock, designated as "Series A Convertible Preferred Stock," with a stated value of $1,000 per share and 25,000 shares reserved for issuance. This preferred stock will accrue a 10% annual dividend monthly and is convertible into common stock at a market conversion price. The company filed the Certificate of Designations on July 10, 2026, but has not yet issued or sold any of these shares.
Key Highlights
- Polar Power established Series A Convertible Preferred Stock.
- Stated value of the preferred stock is $1,000 per share.
- 25,000 shares of Series A Convertible Preferred Stock are reserved for issuance.
- The preferred stock will bear a 10% per annum dividend, accruing monthly.
- Convertible into common stock at 90% of the lowest VWAP over seven trading days.
- The Certificate of Designations was filed on July 10, 2026.
- No Convertible Preferred shares have been issued or sold yet.
Price Impact
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