Phoenix Motor Inc. Faces Nasdaq Delisting Warning
Ticker: PEVM · Form: 8-K · Filed: Oct 15, 2024 · CIK: 1879848
| Field | Detail |
|---|---|
| Company | Phoenix Motor Inc. (PEVM) |
| Form Type | 8-K |
| Filed Date | Oct 15, 2024 |
| Risk Level | high |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0004, $1 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, nasdaq, compliance
Related Tickers: NASDAQ: PHOE
TL;DR
Nasdaq's about to kick Phoenix Motor Inc. off the exchange, company's figuring out what to do.
AI Summary
Phoenix Motor Inc. received a notice on October 11, 2024, indicating it failed to meet a continued listing rule or standard for The Nasdaq Stock Market LLC. The company is currently evaluating the notice and will determine its course of action, which may include appealing the determination or submitting a plan to regain compliance.
Why It Matters
This notice suggests potential financial distress or operational issues for Phoenix Motor Inc., which could impact its stock value and ability to raise capital.
Risk Assessment
Risk Level: high — Receiving a delisting notice from a major stock exchange like Nasdaq indicates significant non-compliance with listing standards, posing a substantial risk to the company's viability and investor confidence.
Key Players & Entities
- Phoenix Motor Inc. (company) — Registrant
- The Nasdaq Stock Market LLC (company) — Exchange issuing notice
- October 11, 2024 (date) — Date of notice
FAQ
What specific listing rule or standard did Phoenix Motor Inc. fail to meet?
The filing states that Phoenix Motor Inc. received a notice regarding failure to satisfy a continued listing rule or standard, but it does not specify which particular rule was violated.
What is the date of the notice from Nasdaq?
The notice from The Nasdaq Stock Market LLC was received on October 11, 2024.
What are the potential actions Phoenix Motor Inc. can take in response to the notice?
Phoenix Motor Inc. is evaluating the notice and may appeal the determination or submit a plan to regain compliance with Nasdaq's listing standards.
Where is Phoenix Motor Inc. headquartered?
Phoenix Motor Inc.'s principal executive offices are located at 1500 Lakeview Loop, Anaheim, CA 92807.
What is the company's SIC code?
The Standard Industrial Classification (SIC) code for Phoenix Motor Inc. is 3713, which corresponds to Truck & Bus Bodies.
Filing Stats: 1,094 words · 4 min read · ~4 pages · Grade level 16.1 · Accepted 2024-10-11 17:43:06
Key Financial Figures
- $0.0004 — ch registered Common Stock, par value $0.0004 per share PEV The Nasdaq Stock Mark
- $1 — ment to maintain a minimum bid price of $1 per share, as set forth in Nasdaq Listi
Filing Documents
- form8-k.htm (8-K) — 42KB
- 0001493152-24-040972.txt ( ) — 216KB
- pev-20241011.xsd (EX-101.SCH) — 3KB
- pev-20241011_lab.xml (EX-101.LAB) — 33KB
- pev-20241011_pre.xml (EX-101.PRE) — 24KB
- form8-k_htm.xml (XML) — 4KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: October 11, 2024 PHOENIX MOTOR INC. By: /s/ Xiaofeng Denton Peng Name: Xiaofeng Denton Peng Title: Chief Executive Officer and Chairman of the Board 3