New York, May 30, 2026, 10:01 EDT
- Polar Power ended the holiday-shortened U.S. trading week Friday at $2.06.
- The stock finished the week at its pre-Memorial Day level. Filings this week flagged issues around liquidity, leases and the listing.
- The next phase for the company is focused on a Nasdaq compliance plan and getting shareholder approval, with a potential share sale linked to the convertible notes on the table.
Polar Power Inc. stock closed nearly flat at $2.06 after a volatile, holiday-shortened week. Shares moved between $2.00 and $2.15 Friday, with volume near 74,000. The microcap power-systems firm stayed in the news with fresh filings about a convertible debt deal, a new headquarters lease settlement, and Nasdaq listing compliance issues.
Nasdaq trading is closed for the weekend, coming off a week that was already shortened by Memorial Day on Monday. Nasdaq’s U.S. stock market usually runs from 9:30 a.m. to 4 p.m. Eastern, Monday through Friday. The exchange listed Memorial Day, May 25, as closed on its 2026 holiday calendar.
Polar Power had a quiet week. Shares finished Tuesday at $2.10, ticked down to $1.98 Wednesday, then bounced back to $2.06 on Thursday and stayed at $2.06 Friday. That’s the same level as the May 22 close before the long weekend, historical market data show.
Polar Power’s latest filing on May 22 shows the company issued two 6% convertible redeemable notes, totaling $970,600 in principal. After fees, net proceeds came to roughly $807,100. The notes can convert into shares, so current holders could see dilution if that happens. Companies low on cash often use convertible notes to raise funds.
The notes can be converted after six months at 80% of the lowest daily VWAP from the last 10 trading days, according to the filing. VWAP is the average price paid during a set period, with each trade weighted by volume. If Polar Power loses its Nasdaq listing, the discount widens to 65% and the lookback increases to 20 days, the filing said.
Polar Power said it signed a restructuring, implementation and management services deal with Mammoth Crest Capital. Mammoth Crest will take on work tied to operations, governance, finances and capital structure. Polar Power agreed to a $500,000 fee, then a $25,000 monthly retainer, plus shares making up 4.5% of the common stock on the effective date.
Facilities were also addressed in the latest filing. Polar Power said it paid $755,000 to landlords and got back into its headquarters on May 22. It agreed to a deal on upcoming rent and some lump-sum payments that would let it stay in the building without facing eviction until June 30, 2027, as long as payments are made. The company will also leave its warehouse site by Aug. 31, 2026.
Polar Power’s latest 10-Q spells out some of the pressure on the stock. At March 31, the company had just $27,000 in cash and cash equivalents on the balance sheet, down from $200,000 at the end of December. Current liabilities stood at $9.1 million. Net sales for the quarter came in at $1.73 million, about flat with last year. Net loss shrank to $178,000 from $1.27 million.
Polar Power warned there is “substantial doubt” about its ability to keep operating as a going concern, a common signal from accountants that the company could have trouble staying in business over the next year if it can’t raise more cash or improve performance. The company used $2.19 million in cash for operations in the first quarter and reported $27,000 in available cash as of March 31.
Business is still heavily concentrated. Polar Power said it designs and sells direct-current generators, renewable energy gear and cooling systems, mostly for telecom. The company said it has smaller business in military, EV charging, marine and industrial. Telecom made up 96% of Q1 sales, with a single Tier-1 U.S. telecom customer bringing in 72% of the total.
Polar Power sits apart from bigger players like Generac Holdings, which is known for backup generators, and Bloom Energy, which sells onsite power systems. Peers trade off wider trends in distributed power, but Polar Power is moving more on cash, leasing details and staying in line with Nasdaq rules.
Polar Power flagged dilution and listing as the main problems. The company said Nasdaq told it earlier this month that stockholders’ equity was $144,000 at Dec. 31, falling short of the $2.5 million Nasdaq minimum. Polar Power has 45 days from the May 1 notice to send a plan and 180 days to fix the issue if Nasdaq signs off. Trading wasn’t affected by the notice, the company said.
Polar Power stock is unlikely to get much of an earnings lift this week. Traders are more focused on whether it can keep access to its headquarters, push ahead on its restructuring, and work up a Nasdaq plan before mid-June. Missing any of those steps could see the shares slip back into a thinly traded, financing-driven market, with price swings on small trades.
