Phoenix Motor enters waiver with investor, waives $12M note purchase right; reserves 29.7M shares for conversion

PHOENIX MOTOR INC.

Investor JAK Opportunities II LLC waives right to require Phoenix to sell $12M of secured convertible notes under Nov 2023 SPA.
Phoenix reserves 29,690,000 shares for conversion of June 2023 convertible note and warrants.
Waiver effective April 5, 2024; no change to existing note terms.

item 1.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.7

PHOENIX MOTOR INC. entered into Waiver with JAK Opportunities II LLC (effective 2024-04-05).

Action: entry
Agreement: equity purchase
Counterparty: JAK Opportunities II LLC
Effective: 2024-04-05

Exact text from the filing

As of April 5, 2024, Phoenix Motor Inc., a Delaware corporation (the “Company”), entered into a waiver letter (the “Waiver”) by and between the Company and JAK Opportunities II LLC (the “Investor”), pursuant to which the Investor waived its right to require the Company to sell $12 million of principal amount of the Company’s secured senior convertible promissory note to the Investor pursuant to the Securities Purchase Agreement, dated as of November 10, 2023, with the Investor.

View on SEC.gov

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

PHOENIX MOTOR INC. filing history →

Source: SEC EDGAR

accession 0001104659-24-053016

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.