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

Reporting relationship: 10%+ Owner
Issuer ticker: PEVM
Reported as of: 26 Sep 2023
Net transaction value: -$12,240,000
SEC form: 4
Accepted by SEC: 28 Sep 2023, 16:10:18 UTC
Prior SEC filing: 07 Oct 2022
Source filing: View source filing
Reporting owner signature: /s/ Xiaofeng Peng, CEO

Key filing fact

EdisonFuture, Inc. filed Form 4 for PHOENIX MOTOR INC. (PEVM) on 28 Sep 2023.

Key facts

This page summarizes EdisonFuture, Inc.'s Form 4 filing for PHOENIX MOTOR INC. (PEVM).
1 reported transaction and 0 derivative rows are listed below.
Accepted by SEC: 28 Sep 2023, 16:10.

Change

Previous filing in this sequence was filed on 07 Oct 2022.
Current net transaction value: -$12,240,000.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

PEV transaction

Common Stock

Sale

Transaction value: $12,240,000
Shares: -12,000,000
Change %: -69%
Price: $1.02
Shares after: 5,500,000
Date: 26 Sep 2023
Ownership: Direct
Footnotes: F1

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 1 footnote

Footnote 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.