Phoenix Motor Inc. (PEV) has released an update to notify the public and investors about the unregistered sales of equity securities.
The summary of a Current Report on Form 8-K indicates that disclosures regarding a Private Offering and the issuance of Warrants—as well as shares resulting from Warrant exercises—were made, and this information is referenced in another section of the report. These securities have not been registered under the Securities Act but were sold under an exemption, specifically Section 4(a)(2) and/or Regulation D.
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For a comprehensive understanding of the announcement, you can read the full document here.
