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Polar Power issues $165,000 in convertible notes at a discount, adds Bright Peaks venture partner to board

8/30/2026

$165,000 in aggregate principal across two convertible promissory notes issued August 28, 2026 cost Polar Power, Inc.

(NASDAQ: POLA) $150,000 in cash from LU2 Holdings LLC and CL Investment Group LLC, embedding a $15,000 origination discount upfront.

The notes carry 1% monthly interest and mature November 26, 2026; any balance unpaid in cash at that date converts in full to common stock. The 8-K, signed by President and Chief Executive Officer Arthur D.

Sams, also disclosed the August 24 board expansion and the election of Lewis Wilks as a new independent director.