---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-048888"
form_type: "8-K"
ticker: "PEVM"
cik: "0001879848"
company_name: "PHOENIX MOTOR INC."
filed_at: "2024-04-18T23:59:59+00:00"
generated_at: "2026-06-03T19:36:26.201939+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Phoenix Motor receives Nasdaq deficiency letter for negative stockholders' equity

## Summary
- Reported stockholders' equity of ($4,839,000) as of Dec 31, 2023, below Nasdaq's $2,500,000 minimum.
- Must submit a plan by June 3, 2024; if accepted, Nasdaq may grant up to 180 days to regain compliance.
- Common stock continues trading on The Nasdaq Capital Market under symbol PEV with no immediate effect.
- No assurance that the plan will be accepted or that compliance can be achieved.

## SEC filing metadata
- accession: 0001104659-24-048888
- form_type: 8-K
- ticker: PEVM
- cik: 0001879848
- company_name: PHOENIX MOTOR INC.
- filed_at: 2024-04-18T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 3.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1879848/000110465924048888/0001104659-24-048888-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1879848/000110465924048888/tm2412175d2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-048888
- JSON: https://secwatch.observer/filing/0001104659-24-048888.json
- Plain text: https://secwatch.observer/filing/0001104659-24-048888.txt

## Key facts
- Listing & Compliance Notices
  PHOENIX MOTOR INC. received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)(1)).
  - Exchange: nasdaq
  - Notice: deficiency notice
  - Deficiency: stockholders equity
  - Rules: 5550(b)(1)
  source text: April 17, 2024, Phoenix Motor Inc. (the “Company”) received a letter (the “Deficiency Letter”) from the Listing Qualifications Staff of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, based upon the Company’s Form 10-K for the year ended December 31, 2023 (the “Form 10-K”), the Company was not in compliance with the requirement to maintain a minimum of $2,500,000 in stockholders’ equity. In the Form 10-K, the Company reported stockholders’ equity of ($4,839,000), which is below the minimum stockholders’ equity required for continued listing pursuant to Nasdaq Listing Rule 5550(b)(1). A
  evidence_url: https://www.sec.gov/Archives/edgar/data/1879848/000110465924048888/0001104659-24-048888-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.