10:35 AM EST, 12/30/2024 (MT Newswires) -- Polar Power ( POLA ) said Monday it regained compliance with rules requiring listed companies on the Nasdaq Stock Market to maintain a minimum bid price of at least $1 per share.

Polar Power ( POLA ) shares closed Friday at $2.83 apiece.

The power and cooling systems manufacturer announced last month that it would implement a 1-for-7 reverse stock split on Nov. 19 to boost its share price above the Nasdaq minimum.

The company said a Jan. 23 compliance hearing with Nasdaq officials has been canceled.

Polar Power ( POLA ) shares were fractionally higher in recent trading.

Price: 2.84, Change: +0.01, Percent Change: +0.35