Polar Power signed a $25 million Committed Equity Facility with Roth Principal Investments. The agreement allows the company to sell common stock at its discretion. Funding remains subject to an effective SEC resale registration statement.
Proceeds will support working capital and DC power systems growth. The facility helps Polar Power meet a previous Nasdaq deadline to increase its stockholders' equity.
Stock sales will occur at prevailing market prices. These transactions may cause significant dilution for existing shareholders.