Polar Power, Inc. (NASDAQ: POLA), a leading provider of prime, backup, solar hybrid power, and microgrid solutions, announced in a Form 8-K filing with the Securities and Exchange Commission that it has successfully regained compliance with the minimum bid price requirement stipulated by The Nasdaq Stock Market LLC.
After facing potential delisting due to non-compliance with the Bid Price Rule, which necessitates listed securities to maintain a bid price of $1.00 per share, Polar Power took proactive steps. On November 18, 2024, the company executed a 1:7 reverse stock split to address the non-compliance issue.
In a recent development, on December 23, 2024, Polar Power received a letter from Nasdaq confirming that the company had regained compliance with the Bid Price Rule. Consequently, the scheduled hearing was canceled, and Polar Power’s securities will continue to be listed and traded on the Nasdaq Capital Market.
To further communicate this achievement, Polar Power issued a press release on December 30, 2024, reaffirming its compliance with the Nasdaq listing requirements. The press release emphasized the company’s commitment to corporate actions that protect and enhance shareholder value.
Polar Power, under the leadership of Arthur Sams, CEO, and Chairman, expressed satisfaction in maintaining the Nasdaq listing, highlighting its importance for the company’s growth and stability. The company’s product portfolio, known for innovation, durability, and efficiency, includes solutions for various industrial applications such as telecom, military, renewable energy, marine, automotive, and residential sectors.
Investors and stakeholders can find more information about Polar Power on their official website or by following their updates on LinkedIn. The company urges caution regarding forward-looking statements, emphasizing that actual results may differ due to various factors beyond its control.
For further investor relations inquiries, interested parties can reach out to Peter Seltzberg at CORE IR or directly contact Polar Power Inc. via email.
**About Polar Power, Inc.**
Polar Power (NASDAQ: POLA) is an industry leader in providing DC advanced power and cooling systems for diverse industrial applications, driving significant changes in power generation methods. The company’s commitment to innovation extends to telecom, military, renewable energy, marine, automotive, residential, commercial, oil field, and mining applications, with a focus on energy source versatility and efficiency.
*Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995:*
This release contains forward-looking statements subject to inherent risks and uncertainties. Polar Power undertakes no obligation to update these statements except as required by law. Interested individuals can find detailed risk discussion in Polar Power’s SEC filings.
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Polar Power’s 8K filing here.
About Polar Power
Polar Power, Inc designs, manufactures, and sells direct current (DC) power generators, renewable energy, and cooling systems in the United States and internationally. The company offers DC base power systems, DC hybrid power systems, DC solar hybrid power systems, and mobile power systems. Its DC power systems are available in diesel, natural gas, LPG/propane, and renewable fuel formats.
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