Polar Power Announces Reverse Stock Split
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Polar Power, Inc. (NASDAQ: POLA) announced a reverse stock split at a 1-for-7 ratio to regain compliance with Nasdaq's $1.00 minimum bid price requirement. The split will take effect on November 19, 2024.
November 15, 2024 | 12:15 pm
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Polar Power is implementing a 1-for-7 reverse stock split to comply with Nasdaq's minimum bid price requirement. This move is aimed at maintaining its listing on the Nasdaq Capital Market.
The reverse stock split is a strategic move to increase the stock price and comply with Nasdaq's listing requirements. While it doesn't change the company's market value, it may affect investor perception and trading activity.
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