--- schema_version: "secwatch.filing_event.v1" accession: "0001104659-24-001172" form_type: "8-K" ticker: "PEVM" cik: "0001879848" company_name: "PHOENIX MOTOR INC." filed_at: "2024-01-04T23:59:59+00:00" generated_at: "2026-06-07T04:15:44.305650+00:00" event_type: "other_material" sentiment: "neutral" materiality_score: 0.6 calibrated_materiality_score: 0.6 confidence: "high" source: SEC EDGAR --- # Phoenix Motor settles $1.69M vendor payables with 1.37M common shares at $1.24/share ## Summary - Issues 769,099 shares to IAT to settle $952,606 owed under EV design contract; provides all deliverables. - Issues 256,666 shares to UAE for $317,906 under first service agreement; issues 339,496 shares for $420,500 under second agreement. - Shares issued in private placement under Section 4(a)(2) exemption; not registered with SEC. - Share price based on 30-day average closing price prior to December 29, 2023, resulting in $1.24 per share. ## SEC filing metadata - accession: 0001104659-24-001172 - form_type: 8-K - ticker: PEVM - cik: 0001879848 - company_name: PHOENIX MOTOR INC. - filed_at: 2024-01-04T23:59:59+00:00 - event_type: other_material - sentiment: neutral - materiality_score: 0.6 - calibrated_materiality_score: 0.6 - confidence: high - sec_items: 1.01, 3.02, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1879848/000110465924001172/0001104659-24-001172-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1879848/000110465924001172/tm241850d1_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001104659-24-001172 - JSON: https://secwatch.observer/filing/0001104659-24-001172.json - Plain text: https://secwatch.observer/filing/0001104659-24-001172.txt ## Key facts - Material Agreements PHOENIX MOTOR INC. entered into First UAE Purchase Agreement with Ultimate Automotive Engineering Inc. valued at $317,906 (effective 2023-12-29). - Action: entry - Agreement: equity purchase - Counterparty: Ultimate Automotive Engineering Inc. - Value: $317,906 - Effective: 2023-12-29 source text: Pursuant to the First Service Agreement, the parties concurrently entered into a purchase agreement (the “First UAE Purchase Agreement”) providing for the payment of $317,906 due to UAE by the issuance of 256,666 Shares of Common Stock to UAE, for an aggregate purchase price of $317,906, or $1.24 per share. evidence_url: https://www.sec.gov/Archives/edgar/data/1879848/000110465924001172/0001104659-24-001172-index.htm - Material Agreements PHOENIX MOTOR INC. entered into First Service Agreement with Ultimate Automotive Engineering Inc. valued at $317,906 (effective 2023-12-29). - Action: entry - Counterparty: Ultimate Automotive Engineering Inc. - Value: $317,906 - Effective: 2023-12-29 source text: On December 29, 2023, EF entered into a service agreement (the “First Service Agreement”) with Ultimate Automotive Engineering Inc., a California corporation (“UAE”), with respect to certain maintenance and support to be provided by UAE, and disputes between the Company, EF and UAE with respect to the performance by UAE and the payment by the Company and EF to UAE for services thereunder. evidence_url: https://www.sec.gov/Archives/edgar/data/1879848/000110465924001172/0001104659-24-001172-index.htm - Material Agreements PHOENIX MOTOR INC. entered into Second Service Agreement with Ultimate Automotive Engineering Inc. valued at $420,500 (effective 2023-12-29). - Action: entry - Counterparty: Ultimate Automotive Engineering Inc. - Value: $420,500 - Effective: 2023-12-29 source text: On December 29, 2023, EF entered into a second service agreement (the “Second Service Agreement”) with UAE with respect to certain maintenance and support to be provided by UAE, and with respect to the performance by UAE and the payment by the Company and EF to UAE for services thereunder. evidence_url: https://www.sec.gov/Archives/edgar/data/1879848/000110465924001172/0001104659-24-001172-index.htm - Material Agreements PHOENIX MOTOR INC. entered into IAT Settlement Agreement with IAT Automobile Design LLC valued at $952,606 (effective 2023-12-29). - Action: entry - Agreement: settlement - Counterparty: IAT Automobile Design LLC - Value: $952,606 - Effective: 2023-12-29 source text: The Company, and its wholly-owned subsidiary, EdisonFuture Motor Inc. (“EF”), entered into a settlement agreement (the “IAT Settlement Agreement”) with IAT Automobile Design LLC, a California limited liability company (“IAT”), with respect to the previous contract between the Company, EF and IAT for the design of certain electric vehicles (the ‘Model Development Agreement”) and disputes between the Company, EF and IAT with respect to the performance by IAT and the payment by the Company and EF for services thereunder. evidence_url: https://www.sec.gov/Archives/edgar/data/1879848/000110465924001172/0001104659-24-001172-index.htm - Material Agreements PHOENIX MOTOR INC. entered into IAT Purchase Agreement with IAT Automobile Design LLC valued at $952,606 (effective 2023-12-29). - Action: entry - Agreement: equity purchase - Counterparty: IAT Automobile Design LLC - Value: $952,606 - Effective: 2023-12-29 source text: Pursuant to the IAT Settlement Agreement, the parties concurrently entered into a purchase agreement (the “IAT Purchase Agreement”) providing for the payment of $952,606 due to IAT by the issuance of 769,099 Shares of the Company’s Common Stock to IAT, for an aggregate purchase price of $952,606, or $1.24 per share. evidence_url: https://www.sec.gov/Archives/edgar/data/1879848/000110465924001172/0001104659-24-001172-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.