Polar power announces reverse stock split

Gardena, ca, nov. 15, 2024 (globe newswire) -- polar power, inc. (nasdaq: pola) (“polar power”), a global provider of prime, backup, solar hybrid power, and microgrid solutions, today announced that it intends to effect a reverse stock split of its common stock at a ratio of 1 post-split share for every 7 pre-split shares. the company's common stock will continue to be traded on the nasdaq capital market under the symbol “pola” and will begin trading on a split-adjusted basis when the market opens on november 19, 2024. the reverse stock split is primarily intended to enable the company to regain compliance with the $1.00 minimum bid price required for continued listing on the nasdaq capital market. the new cusip number for the company's common stock following the reverse stock split will be 73102v204.
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