{"id":1005683,"date":"2026-09-24T09:41:39","date_gmt":"2026-09-24T13:41:39","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/polar-power-ceo-arthur-sams-converts-614700-of-debt-into-preferred-equity-strengthening-balance-sheet\/"},"modified":"2026-09-24T09:41:39","modified_gmt":"2026-09-24T13:41:39","slug":"polar-power-ceo-arthur-sams-converts-614700-of-debt-into-preferred-equity-strengthening-balance-sheet","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/polar-power-ceo-arthur-sams-converts-614700-of-debt-into-preferred-equity-strengthening-balance-sheet\/","title":{"rendered":"Polar Power CEO Arthur Sams Converts $614,700 of Debt Into Preferred Equity, Strengthening Balance Sheet"},"content":{"rendered":"
\n

GARDENA, Calif., Sept. 24, 2026 (GLOBE NEWSWIRE) — Polar Power, Inc. (NASDAQ: POLA) today announced that Arthur D. Sams, the Company\u2019s Founder, President and Chief Executive Officer, has agreed to convert $614,700 of debt owed to him by the Company into 683 Series A Convertible Preferred shares of Polar Power.<\/p>\n

The conversion eliminates $614,700 of debt from the Company\u2019s balance sheet, increases shareholders\u2019 equity, and represents an important step toward addressing the Company\u2019s shareholders\u2019 equity compliance issue.<\/p>\n

\n \u201cConverting this debt into equity reflects my confidence in Polar Power\u2019s future and my commitment to the Company\u2019s long-term success,\u201d said Arthur Sams, Founder, President and Chief Executive Officer. \u201cI believe the opportunities ahead of us across telecommunications, data center power, defense and distributed energy markets position Polar Power for meaningful growth.\u201d<\/i>\n <\/p>\n

In addition to the preferred shares, Polar is also issuing to Mr. Sams a warrant to purchase 382,276 shares of the Company\u2019s common stock at $1.34 per share.<\/p>\n

The Company believes the debt-to-equity conversion strengthens its capital structure and supports its efforts to regain and maintain compliance with applicable Nasdaq continued listing requirements. This debt-to-equity conversion was approved by Polar\u2019s Audit Committee, consisting entirely of independent board members.<\/p>\n

\n About Polar Power, Inc.<\/b>\n <\/p>\n

Polar Power, Inc. (NASDAQ: POLA) designs, manufactures and sells direct-current power generators, renewable energy systems and other power solutions for applications including telecommunications, drone defense, robotics, EV charging, micro-grids military and commercial markets. The Company is headquartered in Gardena, California.<\/p>\n

For more information, please visit www.polarpower.com<\/a>. or follow Polar Power on\u00a0www.linkedin.com\/company\/polar-power-inc\/<\/a>.<\/p>\n

\n Forward-Looking Statements<\/b>\n <\/p>\n

This press release contains forward-looking statements within the meaning of applicable federal securities laws. These statements include, among others, statements regarding the Company\u2019s expectation for future growth opportunities and its efforts to regain and maintain compliance with Nasdaq’s continued listing requirements. Forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. These risks and uncertainties include those described in Polar Power\u2019s filings with the U.S. Securities and Exchange Commission. Polar Power undertakes no obligation to update any forward-looking statement except as required by law.<\/p>\n

\n Media and Investor Relations<\/b>
\n
\n Polar Power, Inc.<\/b>
\n
249 E. Gardena Blvd.
Gardena, CA 90248
Tel: 310-830-9153
Email: ir@polarpowerinc.com<\/a>
www.polarpower.com<\/a><\/p>\n

\"\"
\n
\n \"\"\n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

GARDENA, Calif., Sept. 24, 2026 (GLOBE NEWSWIRE) — Polar Power, Inc. (NASDAQ: POLA) today announced that Arthur D. Sams, the Company\u2019s Founder, President and Chief Executive Officer, has agreed to convert $614,700 of debt owed to him by the Company into 683 Series A Convertible Preferred shares of Polar Power. The conversion eliminates $614,700 of debt from the Company\u2019s balance sheet, increases shareholders\u2019 equity, and represents an important step toward addressing the Company\u2019s shareholders\u2019 equity compliance issue. \u201cConverting this debt into equity reflects my confidence in Polar Power\u2019s future and my commitment to the Company\u2019s long-term success,\u201d said Arthur Sams, Founder, President and Chief Executive Officer. \u201cI believe the opportunities ahead of us across telecommunications, data center power, defense and … <\/p>\n

Continue reading “Polar Power CEO Arthur Sams Converts $614,700 of Debt Into Preferred Equity, Strengthening Balance Sheet”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-1005683","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPolar Power CEO Arthur Sams Converts $614,700 of Debt Into Preferred Equity, Strengthening Balance Sheet - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/polar-power-ceo-arthur-sams-converts-614700-of-debt-into-preferred-equity-strengthening-balance-sheet\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Polar Power CEO Arthur Sams Converts $614,700 of Debt Into Preferred Equity, Strengthening Balance Sheet - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"GARDENA, Calif., Sept. 24, 2026 (GLOBE NEWSWIRE) — Polar Power, Inc. (NASDAQ: POLA) today announced that Arthur D. Sams, the Company\u2019s Founder, President and Chief Executive Officer, has agreed to convert $614,700 of debt owed to him by the Company into 683 Series A Convertible Preferred shares of Polar Power. The conversion eliminates $614,700 of debt from the Company\u2019s balance sheet, increases shareholders\u2019 equity, and represents an important step toward addressing the Company\u2019s shareholders\u2019 equity compliance issue. \u201cConverting this debt into equity reflects my confidence in Polar Power\u2019s future and my commitment to the Company\u2019s long-term success,\u201d said Arthur Sams, Founder, President and Chief Executive Officer. \u201cI believe the opportunities ahead of us across telecommunications, data center power, defense and … Continue reading "Polar Power CEO Arthur Sams Converts $614,700 of Debt Into Preferred Equity, Strengthening Balance Sheet"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/polar-power-ceo-arthur-sams-converts-614700-of-debt-into-preferred-equity-strengthening-balance-sheet\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2026-09-24T13:41:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTgzMzMyOSM3ODYxOTI0IzUwMDA4NjY3OQ==\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/polar-power-ceo-arthur-sams-converts-614700-of-debt-into-preferred-equity-strengthening-balance-sheet\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/polar-power-ceo-arthur-sams-converts-614700-of-debt-into-preferred-equity-strengthening-balance-sheet\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Polar Power CEO Arthur Sams Converts $614,700 of Debt Into Preferred Equity, Strengthening Balance Sheet\",\"datePublished\":\"2026-09-24T13:41:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/polar-power-ceo-arthur-sams-converts-614700-of-debt-into-preferred-equity-strengthening-balance-sheet\\\/\"},\"wordCount\":404,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/polar-power-ceo-arthur-sams-converts-614700-of-debt-into-preferred-equity-strengthening-balance-sheet\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=OTgzMzMyOSM3ODYxOTI0IzUwMDA4NjY3OQ==\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/polar-power-ceo-arthur-sams-converts-614700-of-debt-into-preferred-equity-strengthening-balance-sheet\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/polar-power-ceo-arthur-sams-converts-614700-of-debt-into-preferred-equity-strengthening-balance-sheet\\\/\",\"name\":\"Polar Power CEO Arthur Sams Converts $614,700 of Debt Into Preferred Equity, Strengthening Balance Sheet - 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