---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-053016"
form_type: "8-K"
ticker: "PEVM"
cik: "0001879848"
company_name: "PHOENIX MOTOR INC."
filed_at: "2024-04-26T23:59:59+00:00"
generated_at: "2026-06-03T06:44:14.942649+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-24-053016
- form_type: 8-K
- ticker: PEVM
- cik: 0001879848
- company_name: PHOENIX MOTOR INC.
- filed_at: 2024-04-26T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1879848/000110465924053016/0001104659-24-053016-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1879848/000110465924053016/tm2412829d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-053016
- JSON: https://secwatch.observer/filing/0001104659-24-053016.json
- Plain text: https://secwatch.observer/filing/0001104659-24-053016.txt

## Key facts
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1879848/000110465924053016/0001104659-24-053016-index.htm

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