Phoenix Motor gets Nasdaq extension to April 7, 2025 for minimum bid price compliance

PHOENIX MOTOR INC.

Nasdaq granted Phoenix Motor until April 7, 2025 to regain compliance with $1 minimum bid price requirement.
Company failed to meet the original deadline of October 9, 2024; second 180-day compliance period approved.
Phoenix Motor intends to cure deficiency via reverse stock split if necessary; split must be completed 10 days before deadline.
Failure to comply by April 7, 2025 will trigger delisting; Company may appeal to a Nasdaq Hearings Panel.
Common stock (PEV) continues trading on Nasdaq Capital Market during the extension period.

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