secwatch.observer — SEC 8-K summary
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Issuer:     PHOENIX MOTOR INC. (PEVM)
CIK:        0001879848
Form:       8-K/A
Filed at:   2025-04-03T23:59:59+00:00
Accession:  0001641172-25-002555
Event type: debt
Sentiment:  neutral
Materiality: 0.30
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Phoenix Motor amends loan agreement with J.J. Astor to correct conversion price error upon default
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- Amendment dated April 2, 2025 to Loan Agreement with J.J. Astor & Co. (March 14, 2025).
- On event of default, conversion price set at 80% of average of four lowest VWAP over 20 trading days prior to conversion.
- Initial note amended: original principal $5.3M, bi-weekly installments of $203,846.16, maturity March 13, 2026.
- All other terms of Loan Agreement and Initial Note remain in full force and effect unchanged.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1879848/000164117225002555/0001641172-25-002555-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1879848/000164117225002555/form8-ka.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-002555

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer