Phoenix Motor Strengthens Capital Structure by Negotiating Key Waiver with Note Holder [Yahoo! Finance]
Phoenix Motor Inc. (PEV)
Company Research
Source: Yahoo! Finance
electrification solutions provider for medium-duty vehicles, today announced it signed a waiver agreement with JAK Opportunities II LLC, one of the Company's principal investors, eliminating a potential $12 million convertible promissory note issuance related to a Securities Purchase Agreement (SPA) signed in November 2023. "Recent capital raising activities have provided us with a solid foundation to accelerate our growth initiatives while eliminating the need to incur further dilution related to the SPA," said Denton Peng, CEO of Phoenix Motor. "We want to thank JAK Opportunities for working with our team to reach an agreement that strengthens our capital structure and enhances overall shareholder value." "The waiver agreement not only prevents dilution of existing shares but also reflects the strong confidence our investors place in our operational strategy and our financial health," added Peng. "The eliminated obligation to issue the note is a testament to the effectiveness of
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PEV
News
- PhoenixEV Emerges as Premier Leader in Zero-Emission Vehicles Following Proterra Transit Bus Business Acquisition [Yahoo! Finance]Yahoo! Finance
- PhoenixEV Emerges as Premier Leader in Zero-Emission Vehicles Following Proterra Transit Bus Business AcquisitionAccesswire
- Phoenix Motor Reschedules First Quarter 2024 Earnings Call to July 11Accesswire
- Phoenix Motor Reschedules First Quarter 2024 Earnings Call to June 20Accesswire
- Phoenix Motor Reschedules First Quarter 2024 Earnings Call to June 6Accesswire
PEV
Sec Filings
- 5/30/24 - Form DEF
- 5/29/24 - Form 8-K
- 5/21/24 - Form 8-K
- PEV's page on the SEC website