secwatch.observer — SEC 8-K summary
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Issuer:     PHOENIX MOTOR INC. (PEVM)
CIK:        0001879848
Form:       8-K
Filed at:   2022-11-28T23:59:59+00:00
Accession:  0001104659-22-122235
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Phoenix Motor enters $10M equity purchase agreement with Yorkville; issues 61,421 commitment shares
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- Company has right to sell up to $10M of common stock to Yorkville over 36 months at 93% of market price.
- Issued 61,421 commitment shares as consideration for Yorkville's irrevocable commitment.
- Each advance capped at 100% of 5-day average daily trading volume; 9.99% ownership limit applies.
- Yorkville may not purchase shares that exceed Exchange Cap (19.9% of outstanding) unless stockholder approval or price threshold met.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1879848/000110465922122235/0001104659-22-122235-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1879848/000110465922122235/tm2231298d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-122235

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