Polar Power (NASDAQ: POLA) clears Nasdaq equity test after financings

Posted by Tyrone Williams on Oct 24th, 2026

What happened

Polar Power, Inc. (NASDAQ: POLA) said preliminary pro forma stockholders' equity was about $2.9 million as of October 23, 2026. The company said that figure exceeds Nasdaq's $2.5 million minimum for continued listing on the Nasdaq Capital Market. Polar Power said it believes it has regained compliance based on the transactions in the filing. Nasdaq had extended the deadline, and the company had to file a public report by October 28, 2026, showing compliance.

Key numbers

Metric	Latest	Source
Preliminary pro forma stockholders' equity	about $2.9 million	SEC 8-K
Nasdaq minimum stockholders' equity requirement	$2.5 million	SEC 8-K
Equity increase from Series A Preferred issuance	$1.18 million	SEC 8-K
Roth Purchase Agreement cap	up to $25 million	SEC 8-K
Net proceeds from shares issued to Roth	$989,181	SEC 8-K

Why it matters

The filing lists financings and conversions, including $1.18 million tied to the issuance of Series A Preferred. On May 21, 2026, Polar Power issued a 6% convertible redeemable note to CFI Capital LLC for $600,000 and one to Monroe Street Capital Partners, LP for $370,600. It also says Polar Power has the right, but not the obligation, to sell up to $25 million of common stock to Roth Principal Investments.

The filing says the company had issued 776,148 shares to Roth for net proceeds of $989,181. It then sold more Series A Preferred on October 12 and October 19 with $417,000 and $278,000 of stated value, respectively. The filing also says separate transactions lifted stockholders' equity by $164,100, $200,200, $614,700 and $161,276. By OptimistFi's calculation, preliminary pro forma stockholders' equity is about $400,000 above the Nasdaq minimum.

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What's next

Nasdaq will continue to monitor Polar Power's ongoing compliance, and the company says it may still face delisting if its next periodic report does not evidence compliance. The filing says the figures are preliminary and unaudited. Finalization of the quarter ended September 30, 2026 financial statements is still pending.

The company says the preliminary results are subject to revision as closing procedures finish and the quarter ended September 30, 2026 financial statements are finalized. A later filing that keeps equity above $2.5 million would strengthen the case for continued listing, while a revision below that level would weaken it.