secwatch.observer — SEC 8-K summary
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Issuer:     PHOENIX MOTOR INC. (PEVM)
CIK:        0001879848
Form:       8-K
Filed at:   2024-01-04T23:59:59+00:00
Accession:  0001104659-24-001172
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Phoenix Motor settles $1.69M vendor payables with 1.37M common shares at $1.24/share
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1879848/000110465924001172/0001104659-24-001172-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1879848/000110465924001172/tm241850d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-001172

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer