Phoenix Motor Inc.
Phoenix Motor Inc. designs, assembles and integrates electric drive systems as well as light- and medium-duty electric vehicles (“EVs”). The company also markets and sells electric vehicle chargers for the commercial and residential markets. The company operates two primary brands – Phoenix Motorcars, focused on commercial products, including medium-duty electric vehicles, chargers and electric forklifts, and EdisonFuture, which intends to offer light-duty electric vehicles.
The company was founded in 2003 in Anaheim, California, where it is based.
SPI Energy Co., Ltd., acquired Phoenix Motor in 2020.
(Note: Phoenix Motor Inc. trimmed its IPO at pricing on June 7, 2022, by pricing fewer shares – 2.1 million, down from 2.5 million in the prospectus – at $7.50, below the $8 mid-point of its $7-to-$9 range – to raise $15.75 million. In an S-1/A filing dated May 6, 2022, Phoenix Motor Inc. downsized its IPO by cutting the number of shares to 2.5 million, down from 4.0 million, and setting a new price range of $7 to $9 to raise $20 million. In a previous filing in late April, Phoenix Motor revamped its IPO by removing the warrants and naming a new sole book-runner, Prime Number Capital, which replaced the previous underwriters, Maxim Group, Roth Capital and EF Hutton.)
|Industry:||EVs (electric buses & trucks) & EV drive systems & EV Chargers|
|Address||1500 Lakeview Loop Anaheim, CA 92807|
|Phone Number||(909) 987-0815|
|View Prospectus:||Phoenix Motor Inc.|
|Revenues||$3.0 mil (last 12 months)|
|Net Income||$-0.56 mil (last 12 months)|
|Price range||$7.50 - $7.50|
|Est. $ Volume||$15.8 mil|
|Manager / Joint Managers||Prime Number Capital|
|CO-Managers||Revere Securities/ Westpark Capital|
|Expected To Trade:||6/8/2022|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|