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.

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