Polar Power Reduces Pinnacle Bank Debt by $3 Million, from Approximately $4.7 Million to $1.667 Million; Expects Remaining Balance to Be Paid Down by End of September
Polar Power has retired about two-thirds of its Pinnacle Bank debt and expects to pay off the remainder by the end of September 2026.
Rhea-AI Summary
Polar Power (POLA) reports a substantial reduction in its outstanding debt with Pinnacle Bank to approximately $1.667 million, down from about $4.7 million reported as of September 30, 2025.
The company highlights that this roughly $3.033 million paydown represents about 65% of the prior balance. Since June 30, 2026, the Pinnacle Bank debt has fallen by approximately $1.0 million, from about $2.7 million to about $1.7 million currently. Based on current expectations and available resources, Polar Power expects to repay the remaining Pinnacle Bank balance by the end of September 2026, which it says would eliminate this debt and enhance financial flexibility to support growth initiatives.
Positive
- Pinnacle Bank debt reduced from ~$4.7M to ~$1.667M since 9/30/2025, a ~$3.033M (≈65%) paydown
- Further reduction since 6/30/2026 from ~$2.7M to ~$1.7M, cutting debt by about $1.0M
- Management expectation to repay remaining Pinnacle Bank balance by end of September 2026, removing this debt
Negative
- None.
News Explained
The latest reported cash and equivalents were
Details
Market reaction after debt reduction update: POLA +5.80%
Following this news, POLA has gained 5.80%, reflecting a notable positive market reaction. Our momentum scanner has triggered 6 alerts so far, indicating moderate trading interest and price volatility. The stock is currently trading at $1.46. Trading volume is exceptionally heavy at 129.9x the average, suggesting very strong buying interest.
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Key Figures
- Remaining Pinnacle Bank debt
- $1.667 million
- Current balance after debt reduction
- Debt reduction
- $3.033 million
- Reduction from the September 30, 2025 balance
- Prior Pinnacle Bank debt
- $4.7 million
- Reported balance as of September 30, 2025
- Debt reduction since June 30
- $1.0 million
- Reduction from approximately $2.7 million to approximately $1.7 million
- Expected repayment deadline
- End of September 2026
- Expected repayment of the remaining Pinnacle Bank balance
AI-generated analysis. How Rhea-AI works. Not financial advice.
GARDENA, Calif., Sept. 08, 2026 (GLOBE NEWSWIRE) -- Polar Power, Inc. (NASDAQ: POLA), a global provider of prime, backup and renewable power solutions, today announced that it has reduced its outstanding indebtedness with Pinnacle Bank to approximately
The approximately
Separately, since June 30, 2026, the Company has reduced the Pinnacle Bank balance by approximately
Arthur Sams, Chairman and CEO of Polar Power, commented:
“Reducing our Pinnacle Bank debt from approximately
“Looking specifically at the period since June 30, the balance has declined from approximately
Mr. Sams continued:
“Our focus has been on reducing leverage, improving liquidity and positioning the Company to invest in opportunities that can support long-term growth. With approximately two-thirds of our Pinnacle Bank debt already repaid, we are making significant progress toward that objective.”
The Company believes continued deleveraging can improve financial flexibility and allow management to focus additional resources on revenue growth, new products and strategic expansion. Polar Power continues to pursue opportunities across its traditional telecommunications and backup-power markets, as well as emerging applications involving data center power infrastructure, defense systems and advanced DC power solutions.
About Polar Power, Inc.
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.
For more information, please visit www.polarpower.com. or follow Polar Power on www.linkedin.com/company/polar-power-inc/.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable federal securities laws. These statements include, among others, statements regarding the Company’s expectation to repay the remaining Pinnacle Bank balance by the end of September 2026, anticipated improvements in financial flexibility and liquidity, and the Company’s pursuit of opportunities in telecommunications, data center power infrastructure, defense systems and advanced DC power solutions. 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’s 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.
Media and Investor Relations
Polar Power, Inc.
249 E. Gardena Blvd.
Gardena, CA 90248
Tel: 310-830-9153
Email: ir@polarpowerinc.com
www.polarpower.com
FAQ
In which markets does Polar Power plan to pursue growth after deleveraging?
Polar Power indicates that it continues to pursue opportunities in its traditional telecommunications and backup-power markets, and in emerging applications involving data center power infrastructure, defense systems and advanced DC power solutions.