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

Role: 10%+ Owner
Signature: /s/ Xiaofeng Peng, CEO
Issuer symbol: PEVM
Transactions as of: 26 Sep 2023
Net transactions value: -$12,240,000
Form type: 4
Filing time: 28 Sep 2023, 16:10:18 UTC
Previous filing: 07 Oct 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PEV	Common Stock	Sale	$12,240,000	-12,000,000	-69%	$1.02	5,500,000	26 Sep 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.