Polar Power, Inc.
(NASDAQ:POLA) shares rose 41.60% to $2.08 in after-hours trading on Monday after the company announced a Committed Equity Facility that provides access to up to $25 million in capital.
Polar Power designs and makes DC power systems used in telecommunications, military, EV charging and other industrial applications.
Company Announces $25 Million Equity Facility Polar Power said it entered into a Committed Equity Facility with Roth Principal Investments, LLC, an affiliate of Roth Capital Partners.
The facility allows, but does not obligate, the company to issue and sell up to $25 million of its common stock at its discretion, subject to certain conditions, following the effectiveness of a registration statement.
