Phoenix Motor raises $4.8M in registered direct offering and warrant sale

PHOENIX MOTOR INC.

Sold 4,196,370 shares at $1.15 per unit with warrants to purchase 4,196,370 shares at $2.00, 5-year term.
Gross proceeds $4.8M; net proceeds ~$4.5M after expenses, for general working capital.
Offering closed on February 2, 2024; common stock offered via shelf registration S-3 (File No. 333-273253).
Warrants issued in private placement under Section 4(a)(2) and Regulation D, not registered.

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 certain accredited investors valued at at a combined offering price of $1.15 (effective 2024-01-29).

Action: entry
Agreement: equity purchase
Counterparty: certain accredited investors
Value: at a combined offering price of $1.15
Effective: 2024-01-29

Exact text from the filing

Phoenix Motor Inc. (the "Company") entered into a Securities Purchase Agreement dated January 29, 2024 (the "Purchase Agreement") with certain accredited investors (the "Investors"), to issue and sell in a registered direct offering (the "RD Offering") an aggregate of 4,196,370 shares of the Company’s common stock (the "Common Stock").

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PHOENIX MOTOR INC. filing history →

Source: SEC EDGAR

accession 0001104659-24-010174

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