---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-25-005631"
form_type: "8-K"
ticker: "PEVM"
cik: "0001879848"
company_name: "PHOENIX MOTOR INC."
filed_at: "2025-02-10T23:59:59+00:00"
generated_at: "2026-05-27T00:27:51.483327+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Phoenix Motor restates Q1 and Q2 2024 financials due to warrant accounting errors

## Summary
- Audit committee concluded Q1 and Q2 2024 financials should no longer be relied upon due to misstatements.
- Warrants issued in Q1 2024 should have been accounted as liabilities, not equity.
- Q1 2024: understatement of loss on warrants of $7.4M; warrant liability understated by $7.1M.
- Q2 2024: understatement of gain on change in fair value of $5.2M (Q2) and $14.6M (six months); APIC overstated by $9.1M.
- Company to amend Q1 and Q2 10-Qs; previously disclosed material weaknesses in internal controls contributed.

## SEC filing metadata
- accession: 0001493152-25-005631
- form_type: 8-K
- ticker: PEVM
- cik: 0001879848
- company_name: PHOENIX MOTOR INC.
- filed_at: 2025-02-10T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1879848/000149315225005631/0001493152-25-005631-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1879848/000149315225005631/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-005631
- JSON: https://secwatch.observer/filing/0001493152-25-005631.json
- Plain text: https://secwatch.observer/filing/0001493152-25-005631.txt

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