Solidion Technology (NASDAQ: STI) Sees no Basis to Increase Its Offer to Polar Power, Inc. (NASDAQ: POLA) in Response to Board Rejection of All-Cash Asset Acquisition Proposal
PR Newswire•06/10/2026•06:00 ET
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Key Highlights
- ➤Solidion (STI) will not increase its rejected all-cash asset acquisition proposal for Polar Power (POLA)
- ➤Polar established a committed equity facility permitting up to $25 million in common-stock sales
- ➤Polar reported approximately $2.0 million net loss and $2.2 million operating cash use for six months
- ➤Polar had $183,000 cash and until October 28, 2026 to address NASDAQ equity compliance
- ➤Polar’s auditors expressed substantial doubt about its ability to continue as a going concern
Expert Statements
Jaymes Winters, Chairman and CEO of Solidion Technology
“Our acquisition proposals are not personal, nor are our valuations meant to diminish the technology, people or opportunities of the companies we evaluate,”
Jaymes Winters, Chairman and CEO of Solidion Technology
“Our offers and valuations are the product of disciplined financial modeling, due diligence and our assessment of both the value of the assets and the capital and execution required to realize their potential.”
Jaymes Winters, Chairman and CEO of Solidion Technology
“We will continue to make offers based on those fundamentals, and we will not overpay to simply complete a transaction.”
Jaymes Winters, Chairman and CEO of Solidion Technology
“Polar Power, Inc. is a severely distressed company who is desperate to raise expensive, dilutive capital in the face of economic headwinds and without adequate downside protection for their own shareholders. This entities' future is in doubt.”
Solidion Technology (NASDAQ: STI) Sees no Basis to Increase Its Offer to Polar Power, Inc. (NASDAQ: POLA) in Response to Board Rejection of All-Cash Asset Acquisition Proposal PR Newswire
Warns Polar Power Shareholders that the Company is "Severely Distressed"
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