---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-112237"
form_type: "8-K"
ticker: "PEVM"
cik: "0001879848"
company_name: "PHOENIX MOTOR INC."
filed_at: "2023-10-27T23:59:59+00:00"
generated_at: "2026-06-09T07:19:52.859026+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Phoenix Motor ups convertible note funding to $9.7M, issues warrant for 1.5M shares

## Summary
- Issued $1.75M additional principal amount of unsecured senior convertible note to JAK Opportunities II.
- Warrant to purchase 1.5M common shares at $1.30 per share, full ratchet anti-dilution, 6-year term.
- Total principal amount under note increased to $10.56M; funding amount raised to $9.67M.
- Company must file resale registration statement within 30 days for shares underlying warrant and note.

## SEC filing metadata
- accession: 0001104659-23-112237
- form_type: 8-K
- ticker: PEVM
- cik: 0001879848
- company_name: PHOENIX MOTOR INC.
- filed_at: 2023-10-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1879848/000110465923112237/0001104659-23-112237-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1879848/000110465923112237/tm2329305d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-112237
- JSON: https://secwatch.observer/filing/0001104659-23-112237.json
- Plain text: https://secwatch.observer/filing/0001104659-23-112237.txt

## Key facts
- Debt Financings
  PHOENIX MOTOR INC. amended convertible notes of increased to an aggregate principal amount equal to no greater than $9,666,500, and the total principal amount was incre with a certain accredited investor at original issue discount of 8.5% maturing 36 months following the date of the Original SPA.
  - Instrument: convertible notes
  - Principal: increased to an aggregate principal amount equal to no greater than $9,666,500, and the total principal amount was incre
  - Counterparty: a certain accredited investor
  - Rate: original issue discount of 8.5%
  - Maturity: 36 months following the date of the Original SPA
  - Event: amendment
  source text: pursuant to the Amendment, under the SPA the "Funding Amount" was increased to an aggregate principal amount equal to no greater than $9,666,500, and the total principal amount was increased to be no greater than $10,564,481, to be reduced by the original issue discount of 8.5% and amounts previously advanced under the Original Note.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1879848/000110465923112237/0001104659-23-112237-index.htm
- Material Agreements
  PHOENIX MOTOR INC. amended First Amendment with certain accredited investor named therein (effective 2023-10-26).
  - Action: amendment
  - Agreement: equity purchase
  - Counterparty: certain accredited investor named therein
  - Effective: 2023-10-26
  source text: On October 26, 2023, Phoenix Motor Inc., a Delaware corporation (the “ Company ”), entered into that certain First Amendment (the “ Amendment ”) to the Securities Purchase Agreement dated as of June 23, 2023 (the “ Original SPA ” and together with the Amendment, the “ SPA ”), with a certain accredited investor named therein
  evidence_url: https://www.sec.gov/Archives/edgar/data/1879848/000110465923112237/0001104659-23-112237-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.