Nasdaq Panel denies Phoenix Motor's appeal; delisting from Nasdaq confirmed

PHOENIX MOTOR INC.

Nasdaq Hearings Panel denied company's request to continue listing; stock remains delisted.
Trading suspended on Nasdaq since April 15, 2025; now quoted on OTC Pink under PEVM.
Company has 15 days to request review by Nasdaq Listing and Hearing Review Council.
Delisting likely to adversely affect trading liquidity and stock price.

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