Phoenix Motor raises ~$678k via private placement of 600k shares and warrants

PHOENIX MOTOR INC.

Issued 600,000 shares at $1.13/share and warrants for 600,000 shares exercisable at $1.13 for one year.
Gross proceeds of ~$678,000 from accredited investor Gaoan Capital Management LLC.
Proceeds to fund working capital and general corporate purposes.
Securities offered in unregistered private placement under Section 4(a)(2)/Regulation D.
Warrants immediately exercisable, cashless exercise if no registration statement effective.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

PHOENIX MOTOR INC. entered into Securities Purchase Agreement with accredited investor valued at approximately $678,000 (effective 2024-01-04).

Action: entry
Agreement: equity purchase
Counterparty: accredited investor
Value: approximately $678,000
Effective: 2024-01-04

Exact text from the filing

On January 4, 2024, Phoenix Motor Inc., a Delaware corporation (the “ Company ”), entered into a Securities Purchase Agreement (the “ Securities Purchase Agreement ”) with an accredited investor (the “ Purchaser ” ), relating to a private placement (the “ Private Placement ”) by the Company pursuant to which the Company issued 600,000 shares (the “ Shares ”) of the Company’s common stock (the “ Common Stock ”) at a purchase price of $1.13 per share, and a Common Stock purchase warrant (the “ Warrant ”) to purchase up to 600,000 shares of Common Stock, exercisable at $1.13 per share (the “ Warrant Shares ” and, together with the Warrants and the Shares, the “ Securities ”).

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287 material agreements filed in the last 30 days. Browse all material agreements →

PHOENIX MOTOR INC. filing history →

Source: SEC EDGAR

accession 0001104659-24-008889

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