Polar Power Rejects Solidion All-Cash Offer for Company Assets
Globe Newswire•05/10/2026•16:05 ET
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Key Highlights
- ➤Polar Power rejected Solidion’s all-cash offer to acquire all company assets
- ➤Board said Solidion’s proposal materially undervalues Polar Power’s assets and opportunities
- ➤Polar Power will evaluate mergers, acquisitions, joint ventures and other strategic transactions
- ➤Polar Power will continue its existing business strategy while considering strategic alternatives
Expert Statements
Arthur Sams, Chief Executive Officer of Polar Power
“Polar Power has spent decades developing valuable technology, intellectual property and operating capabilities that we believe position the Company for significant opportunities across our existing and emerging markets.”
Arthur Sams, Chief Executive Officer of Polar Power
“The Board determined that Solidion’s proposal does not come close to reflecting the value of those assets or the future opportunities we see for the Company.”
Arthur Sams, Chief Executive Officer of Polar Power
“Our focus is on maximizing value for our shareholders, and we remain open to evaluating credible strategic transactions that we believe can deliver superior value.”
Company remains focused on maximizing shareholder value and evaluating credible strategic opportunities
GARDENA, Calif., Oct. 05, 2026 (GLOBE NEWSWIRE) -- Polar Power, Inc. (NASDAQ: POLA) (the “Company”), a global provider of prime, backup and solar hybrid power solutions, today announced that its Board of Directors has rejected an all-cash proposal from Solidion to acquire all of the Company’s assets.
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