Phoenix Motor secures $6M loan from J.J. Astor & Co. for production expansion

PHOENIX MOTOR INC.

Loan up to $6M in two tranches ($4M initial, $2M optional) via senior secured convertible notes.
Proceeds used to repay ~$1.22M senior debt and fund working capital; notes mature March 2026.
Conversion price at 85% of lower of prior close or avg of 4 lowest VWAP over 20 days.
Notes require registration filing within 90 days; subsidiaries guarantee and pledge assets.
CEO Denton Peng says financing enables production ramp-up to fulfill electric bus orders.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

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.