Wire
Polar Power Enters $25 Million Equity Facility to Support Growth; Shares Rise Pre-Bell
Polar Power (POLA) said Monday it has entered into a committed equity facility with Roth Principal Investments that gives the company the option to sell up to $25 million of its common stock.Proceeds from any share sales will be used for working capital and general corporate purposes, including supporting the growth of the company's DC systems business.Polar Power said it is not obligated to draw on the full facility, and the amount ultimately raised may be limited by registration and Nasdaq requirements.Shares of the company were up more than 41% in premarket activity Tuesday.Price: $2.08, Change: $+0.61, Percent Change: +41.50%
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