Polar Power CEO Arthur D. Sams Agrees To Convert $614,700 Debt Into 683 Class A Convertible Preferred Shares
Polar Power, Inc. (NASDAQ:POLA) today announced that Arthur D. Sams, the Company’s Founder, President and Chief Executive Officer, has agreed to convert $614,700 of debt owed to him by the Company into 683 Series A
The CEO turned money the company owed him into company shares instead. This shows he believes in the company and reduces what it owes.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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