Polar Power is seeking shareholder approval for a reverse stock split. The proposed ratio ranges between 1-for-3 and 1-for-20. This proposal is part of a preliminary proxy statement for the 2026 annual meeting. The board would retain discretionary power to enact the split through December 31, 2027.
The company intends to raise its per-share trading price to regain Nasdaq compliance. Polar Power previously failed to meet the minimum stockholders' equity requirement. Nasdaq has granted the company an extension until October 2026 to resolve the deficiency.
Shareholders will also vote on authorizing significant new share issuances. These issuances are intended for future financing purposes.