Polar Power, which manufactures DC power generators for off-grid commercial applications, raised $16.8 million by offering 2.4 million shares at $7, the low end of the range of $7 to $8. At this price it commands a market cap of $68 million. It originally filed to raise $15 million by offering 2 million shares; at the $7.50 midpoint it was targeting a market cap of $70 million. Polar Power plans to list on the Nasdaq under the symbol POLA. Roth Capital and Joseph Gunnar & Co. acted as lead managers on the deal.
