Solidion Technology sees no basis to raise cash offer for Polar Power assets
Solidion Technology said it sees no basis to raise its cash offer for Polar Power's assets, citing the target's operating losses, negative cash flow, and reliance on dilutive financing.
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10:16:08 AM UTC
SquawkNews
Oct 6 (Reuters) — Polar Power Inc: 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 Solidion Technology, - Will Not Increase Offer To Polar Power After Board Rejects All-cash Proposal Solidion Technology, - Warns Polar Power Shareholders Company Is Severely Distressed Source text:... Further company coverage: POLA.O (Reuters.Briefs@thomsonreuters.com;)