DelistingJul 6, 2026, 05:27 PM
Polar Power Gets Nasdaq Extension for Equity Compliance
AI Summary
Polar Power, Inc. received an extension from Nasdaq to regain compliance with Listing Rule 5550(b) regarding stockholders' equity. The company was notified on May 1, 2026, that its stockholders' equity of $144,000 as of December 31, 2025, was insufficient. Following a submitted compliance plan, Nasdaq granted an extension until October 28, 2026, for the company to demonstrate compliance through specific public disclosures. Failure to meet these terms or maintain compliance in future periodic reports could result in delisting.
Key Highlights
- Received Nasdaq deficiency letter on May 1, 2026, for non-compliance with Rule 5550(b).
- Reported $144,000 in stockholders' equity as of December 31, 2025.
- Submitted a compliance plan to Nasdaq on June 15, 2026, including financing and restructuring.
- Granted an extension by Nasdaq on June 29, 2026, to regain compliance.
- Must evidence compliance by October 28, 2026, through specific reporting alternatives.
- Failure to comply by the deadline or in subsequent periodic reports may lead to delisting.
Price Impact
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