secwatch.observer — SEC 8-K summary
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Issuer:     PHOENIX MOTOR INC. (PEVM)
CIK:        0001879848
Form:       8-K
Filed at:   2024-04-16T23:59:59+00:00
Accession:  0001104659-24-047807
Event type: regulatory
Sentiment:  negative
Materiality: 0.70
Item codes: 3.01
LLM model:  deepseek-v4-flash:cloud@v2

Phoenix Motor receives Nasdaq deficiency notice for bid price below $1; 180-day cure period until Oct 9
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- On April 12, 2024, Phoenix Motor received a Nasdaq Deficiency Letter for non-compliance with Minimum Bid Price Requirement (closing bid price below $1 for 30 consecutive business days).
- Company has 180 calendar days, until October 9, 2024, to regain compliance by closing at $1.00 or more for 10 consecutive business days.
- If not compliant by Oct 9, Company may be eligible for an additional 180 days if it meets other listing standards and plans a reverse stock split.
- Common stock (PEV) continues to trade on Nasdaq Capital Market; delisting risk remains if deficiency is not cured.
- Company intends to monitor bid price and evaluate options but provides no assurance of regaining compliance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1879848/000110465924047807/0001104659-24-047807-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1879848/000110465924047807/tm2411365d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-047807

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