Polar Power, Inc. (POLA) announced that it believes it has regained compliance with The Nasdaq Stock Market's minimum stockholders' equity requirement of $2.5 million, avoiding a potential delisting. The company raised its preliminary pro forma stockholders' equity to approximately $2.9 million through a series of financing transactions executed between May and October 2026.
Key Details
- Compliance Status: The company received a deficiency notice from Nasdaq on May 1, 2026, and was given until October 28, 2026, to meet the $2.5 million minimum equity rule.
- Capital Raising Activities: Compliance was achieved via multiple transactions, including convertible note financings, private placements of Series A Preferred Stock and warrants, and sales under an equity line of credit agreement.
- Financial Position: The financing activities increased stockholders' equity to a preliminary, unaudited total of approximately $2.9 million. The company's compliance remains subject to Nasdaq's continued monitoring.