Polar Power Board Unanimously Rejects Solidion All-Cash Acquisition Offer

Key Facts

1Polar Power's Board of Directors unanimously rejected an all-cash proposal from Solidion to acquire all of the company's assets.

Polar Power's Board of Directors unanimously rejected an all-cash proposal from Solidion to acquire all of the company's assets. Reuters reported that the board reached this decision after a formal review, stating a continued focus on maximizing shareholder value through alternative strategic opportunities.

The board determined that the Solidion proposal materially undervalues Polar Power's assets and intellectual property while failing to reflect its future growth prospects. POLA closed at $1.16 on October 2, 2026, having traded between a low of $1.1 and a high of $1.18 during that session.