{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-23-116479","form_type":"8-K","ticker":"PEVM","cik":"0001879848","company_name":"PHOENIX MOTOR INC.","filed_at":"2023-11-13T23:59:59+00:00","discovered_at":"2026-05-14T18:03:31.256511+00:00","generated_at":"2026-06-08T05:39:17.112671+00:00","sec_items":["1.01","2.03","3.02","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Phoenix Motor agrees $12M secured convertible note with 10% OID, floor conversion at $0.60","bullets":["Issued execution warrant for 1M shares at $1.30 exercise price, 6-year term; closing warrant to be issued upon note funding.","Note principal $12M, net proceeds $10.8M after 10% original-issue discount; interest Prime+4.75% (cash) or Prime+7.75% (stock).","Funding conditioned on 10-day VWAP > $1.00 and daily volume > $150,000; note matures 18 months after issuance.","Conversion price is greater of $0.60 floor or 87.5% of 7-day VWAP (capped at $0.80); prepayment allowed at 30% premium.","Company must seek stockholder approval for share issuance beyond Nasdaq limits and file resale registration within 15 days."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-23-116479","json":"https://secwatch.observer/filing/0001104659-23-116479.json","markdown":"https://secwatch.observer/filing/0001104659-23-116479.md","text":"https://secwatch.observer/filing/0001104659-23-116479.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1879848/000110465923116479/0001104659-23-116479-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1879848/000110465923116479/tm2330514d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-08T05:39:17.112671+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"15ebdef26a25ce8ec4f2794597231ee15f90ec3c","claim":"PHOENIX MOTOR INC. incurred convertible notes of $12 million with accredited investor at Prime Rate plus 4.75% per annum if paid in cash, or Prime Rate plus 7.75% per an maturing 18 months after the date of issuance.","evidence_excerpt":"the Company agreed to issue and sell, in a private placement, subject to the satisfaction of certain closing conditions, a $12 million of principal amount of the Company's secured senior convertible promissory note (the \" Note \"), having an original issue discount of 10%, which upon closing will result in a net amount of $10.8 million of being purchased by the Investor.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1879848/000110465923116479/0001104659-23-116479-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$12 million"},{"label":"Counterparty","value":"accredited investor"},{"label":"Rate","value":"Prime Rate plus 4.75% per annum if paid in cash, or Prime Rate plus 7.75% per an"},{"label":"Maturity","value":"18 months after the date of issuance"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"8c5c8eda9ce6b6759d78de06b552efd3249238da","claim":"PHOENIX MOTOR INC. entered into Second Securities Purchase Agreement with the accredited investor named therein valued at $12 million (effective 2023-11-10).","evidence_excerpt":"On November 10, 2023, Phoenix Motor Inc., a Delaware corporation (the “ Company ”), entered into that certain Second Securities Purchase Agreement, dated as of November 10, 2023 (the “ SPA ”), with the accredited investor named therein (the “ Investor ”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1879848/000110465923116479/0001104659-23-116479-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"the accredited investor named therein"},{"label":"Value","value":"$12 million"},{"label":"Effective","value":"2023-11-10"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}