Polar Power (POLA) plans to raise $15 million in an IPO on Wednesday, December 7th. The company plans to issue 2,000,000 shares at a price of $7.00-$8.00 per share.

In the last 12 months, Polar Power generated $17.2 million in revenue and $2.5 million in net income. The company has a market-cap of $70.4 million.

Roth Capital Partners and Joseph Gunnar acted as the underwriters for the IPO and Feltl and Company was co-manager.

Polar Power provided the following description of their company for its IPO: “We design, manufacture and sell direct current, or DC, power systems for applications primarily in the telecommunications market and, to a lesser extent, in other markets, including military, electric vehicle charging, cogeneration, distributed power and uninterruptable power supply. Within the telecommunications market, our systems provide reliable and low-cost energy for applications that do not have access to the utility grid or have critical power needs and cannot be without power in the event of utility grid failure. Within this market, we offer three configurations of our DC power systems, with output power ranging from 5 kW to 20 kW and with three possible sources of fuel: diesel, natural gas and liquid petroleum gas. “.

Polar Power was founded in 1979 and has 101 employees. The company is located at 249 E. Gardena Boulevard, Gardena, CA 90248, US and can be reached via phone at (310) 830-9153 or on the web at https://www.polarpower.com.

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