Polar Power Swaps $614,700 Insider Notes for Preferred Stock and 382,276-Share Warrant

Polar Power entered into an exchange agreement with CEO Arthur Sams to convert $614,700 in principal and accrued interest from company promissory notes into 683 shares of Series A Convertible Preferred Stock and a warrant for 382,276 common shares. The preferred carries a 10% annual dividend, accru…