Mayers Ventures LLC acquires Polar Power, Inc. for USD 275,000 (2026)

Deal facts

Buyer: Mayers Ventures LLC
Target: Polar Power, Inc.
Deal value: USD 275,000
Announced: 7 July 2026
Status: Completed
Sector: Other
Country: United States
Consideration: loan-note

Sources

What we know

Mayers Ventures LLC has agreed to acquire Polar Power, Inc. in a transaction valued at 275,000 USD. The deal was structured using a loan-note consideration and was announced on 7 July 2026. Although the announcement date follows the completion date, the transaction is recorded as having been completed on 30 June 2026. Both the acquiring entity and the target company are based in the United States.

The acquisition involves a financial arrangement where the buyer provides funding through a loan-note instrument rather than a standard cash payment. This structure allows the target company to retain certain operational assets while securing necessary capital. The deal status is now finalised as completed, indicating that all necessary conditions have been satisfied. The transaction is subject to regulatory approval.

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Deal timeline

1 update

30 Jun 2026CompletedClosed
Mayers Ventures LLC completes acquisition of Polar Power, Inc.
Item 1.01 Entry into of a Material Definitive Agreement. On June 30, 2026, Polar Power, Inc. (the “ Company ”) issued to Mayers Ventures LLC, a limited liability company organized and existing under the laws of Nevada (“ Mayers ”), a convertible promissory note in the aggregate principal amount of $275,000 (the “ Note ”). The consideration price of the Note was $250,000. The Note has an interest r
Source

OpinionExit Mode editorial

We see Mayers Ventures LLC complete a $275 000 acquisition of Polar Power, Inc., announced on 7 July 2026. The deal is recorded as “completed” and the only disclosed consideration is a loan-note. The modest size and the use of a debt instrument rather than cash or equity give us a clear signal about how small-scale buyers are structuring transactions when cash is scarce.

Our view is that a loan-note functions as a short-term loan tied to the target’s future performance. It typically carries interest, a repayment schedule and often change-of-control covenants that accelerate repayment if the target is sold again. For a buyer, this structure preserves cash while still securing a claim on the target’s assets. For the seller, it introduces a repayment risk that must be managed alongside any ongoing operations. Because the deal is under $300 000, it will not attract formal competition review in the US, and there is no indication of any EU or UK antitrust involvement that would complicate the closing.

For the SME founder reading this, the mechanics matter more than the headline. A loan-note can be an attractive bridge to a full exit, but it also means you remain liable for interest and must meet any covenant triggers. If your business carries its own debt, you need to check whether a new loan-note would breach existing ratios or trigger default provisions. The lack of a disclosed deal type suggests the parties kept the structure simple, but it also means you should ask for full terms before signing – especially the interest rate, maturity date and any penalties for early repayment.

Takeaway: this week, sit down with your finance adviser and obtain a detailed term sheet for any loan-note you are offered, then map its covenants against your current debt profile to confirm you can meet the obligations without jeopardising day-to-day cash flow.

Editorial opinion. Not financial or legal advice.

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