Polar Power has entered into a committed equity facility with Roth Principal Investments that allows the company to raise up to $25 million by selling shares over time. The facility gives Polar Power the discretion to issue common stock to Roth Principal Investments, with net proceeds intended for working capital and general corporate purposes including expansion of its DC power systems business across markets such as data center power and cooling, drone charging systems, EV charging, micro and nano grids, robotics, telecommunications, and military applications. The stock price jumped about 42% on Monday after hours of trading.
Polar Power IncSecured up to $25 million committed equity facility for working capital and expansion