Polar Power cuts Pinnacle Bank debt to $1.67M, eyes full payoff

Polar Power, Inc. (NASDAQ: POLA) announced it has reduced its outstanding debt with Pinnacle Bank to approximately $1.667 million, down from approximately $4.7 million as of September 30, 2025, according to a press release statement.

The roughly $3.033 million reduction represents approximately 65% of the previously reported balance. Since June 30, 2026, the company has reduced the Pinnacle Bank balance by approximately $1.0 million, from approximately $2.7 million to approximately $1.7 million.

Polar Power said it expects to repay the remaining balance by the end of September 2026, which would eliminate the Pinnacle Bank debt entirely.

Arthur Sams, Chairman and CEO, stated: "We currently expect to repay the remaining balance by the end of September, which would eliminate Pinnacle debt and further improve our financial flexibility."

Polar Power is headquartered in Gardena, California, and designs and manufactures direct-current power generators and renewable energy systems for telecommunications, defense, robotics, EV charging, and other commercial markets.

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