Polar Power issues USD 165,000 convertible notes to LU2 Holdings, CL Investment Group - POLA News | RalliesPolar Power issues USD 165,000 convertible notes to LU2 Holdings, CL Investment Group
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POLA• Polar Power issues convertible notes to LU2 Holdings and CL Investment Group
- Polar Power issued two convertible promissory notes totaling USD 165,000 to LU2 Holdings, CL Investment Group for USD 150,000.
- The notes carry 1% monthly interest and mature Nov. 26, 2026.
- Any unpaid balance converts into common stock at the lower of 80% of the 5-day VWAP or USD 1.
- Net proceeds from its Roth Principal Investments common stock purchase facility must be used to repay the notes until fully paid.
