EdisonFuture, Inc. - Sep 26, 2023 Form 4 Insider Report for PHOENIX MOTOR INC. (PEV)

Role: 10%+ Owner
Signature: /s/ Xiaofeng Peng, CEO
Stock symbol: PEV
Transactions as of: Sep 26, 2023
Transactions value $: -$12,240,000
Form type: 4
Date filed: 9/28/2023, 04:10 PM
Previous filing: Oct 7, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PEV	Common Stock	Sale	-$12.2M	-12M	-68.57%	$1.02	5.5M	Sep 26, 2023	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The purchase price of $12,240,000 was paid $40,000 in cash on September 26, 2023 and the balance of $12,200,000 was paid by delivery of a secured promissory note dated September 26, 2023, bearing interest at 3% per annum, with the full principal amount of $12,200,000 due at maturity in 3 years, or September 26, 2026. The shares were also pledged as collateral for the seller EdisonFuture's benefit under a Stock Pledge Agreement dated September 26, 2023.

Content

The purchase price of $12,240,000 was paid $40,000 in cash on September 26, 2023 and the balance of $12,200,000 was paid by delivery of a secured promissory note dated September 26, 2023, bearing interest at 3% per annum, with the full principal amount of $12,200,000 due at maturity in 3 years, or September 26, 2026. The shares were also pledged as collateral for the seller EdisonFuture's benefit under a Stock Pledge Agreement dated September 26, 2023.