Polar Power enters committed equity facility for up to $25 million with Roth Principal Investments
POLA•Committed equity facility with Roth Principal Investments
Polar Power entered a committed equity facility with Roth Principal Investments for up to $25 million in common stock sales.
The company can draw on the facility at its discretion over time, subject to conditions including an effective resale registration statement.
Proceeds are earmarked for working capital, general corporate purposes, and growth in DC power systems.
Issuances are expected to price off prevailing market levels, creating potential dilution for existing shareholders.
The ability to access the full $25 million may be constrained by registered share limits and Nasdaq rules.
