10/21/2026 | Press release | Distributed by Public on 10/21/2026 09:51
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FORM 3
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | SEC 1473 (7-02) | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | |||
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1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security |
5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
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| Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
| Common Stock Purchase Warrants | 07/29/2026 | 07/29/2029 | Warrants | 227,182 | $1.65 | I | By CL Investment Group LLC(1)(2) |
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
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Mayer Christopher Jay C/O POLAR POWER, INC. 249 E. GARDENA BLVD. GARDENA, CA 90248 |
X | Co-Chief Executive Officer | ||
| /s/ Chris Mayer | 10/21/2026 | |
| **Signature of Reporting Person | Date |
| * | If the form is filed by more than one reporting person, see Instruction 5(b)(v). |
| ** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
| (1) | Held directly by CL Investment Group LLC ("CL Investment"): (i) Series A Convertible Preferred Stock ("Series A Preferred") convertible into 2,469,705 shares of Common Stock, (ii) Common Stock Purchase Warrants ("Warrants") exercisable for 227,182 shares, and (iii) an $82,500 convertible note ("CL Note") convertible into 82,500 shares. The Reporting Person holds a one-half economic interest in CL Investment and may be deemed to beneficially own its securities; his pecuniary interest is approximately 1,234,853, 113,591 and 41,250 shares underlying the Series A Preferred, Warrants and CL Note, respectively. The Reporting Person disclaims beneficial ownership except to the extent of his pecuniary interest, and this report is not an admission of beneficial ownership for Section 16 or any other purpose. |
| (2) | Shares issuable upon exercise of the Warrants. See footnote 1. |