Phoenix Motor Inc. Announces Reverse Stock Split of its Common Stock

Rhea-AI Summary

Phoenix Motor (OTC:PEVM) announced a 1-for-10 reverse stock split of its common stock effective at the close of trading on February 13, 2026. The common stock is expected to trade on a split-adjusted basis on the OTC Markets at market open on February 17, 2026.

The company filed a certificate of amendment in Delaware and will use new CUSIP 7190P401. Outstanding shares will convert from approximately 13,382,349 to ~1,338,235. Fractional shares will be rounded up and no cash or other consideration will be paid for fractions. Par value and authorized shares remain unchanged. Transfer agent: VStock Transfer, LLC.

Positive

• Outstanding shares will convert from approximately 13,382,349 to ~1,338,235
• Reverse split implemented by a filed Delaware certificate of amendment
• New CUSIP assigned: 7190P401

Negative

• No cash or other consideration will be paid for fractional shares
• Minor ownership percentage changes may occur due to rounding of fractional shares

ANAHEIM, CA / ACCESS Newswire / February 9, 2026 / Phoenix Motor Inc. (OTC:PEVM) (the "Company") previously announced that its board of directors has adopted resolutions approving a reverse stock split of its common stock, par value $0.0004 per share ("Common Stock"), at a ratio of 1-for-10 (the "Reverse Stock Split"). The Reverse Stock Split will take effect at the close of trading on February 13, 2026, and the Company's Common Stock is expected to begin trading on a split-adjusted basis on the OTC Markets under the Company's existing trading symbol "PEVM," at the market open on February17, 2026. The new CUSIP number following the Reverse Stock Split will be 7190P401.

The Reverse Stock Split was effected by the Company filing a certificate of amendment to its certificate of incorporation with the Secretary of State of the State of Delaware. When the Reverse Stock Split becomes effective, the total number of shares of Common Stock held by each stockholder of the Company will be converted automatically into the number of shares of Common Stock equal to (i) the number of issued and outstanding shares of Common Stock held by each such stockholder immediately prior to the Reverse Stock Split, divided by (ii) ten (10), with such resulting number of shares rounded up to the nearest whole share. As a result, no fractional shares will be issued in connection with the Reverse Stock Split and no cash or other consideration will be paid in connection with any fractional shares that would otherwise have resulted from the Reverse Stock Split.

The Reverse Stock Split has no effect on the par value of the Common Stock or authorized shares of common stock or preferred stock. Currently, the Company has approximately 13,382,349 shares of Common Stock outstanding. After the Reverse Stock Split, the Company would have approximately 1,338,235 shares outstanding. Each stockholder's percentage ownership interest in the Company and proportional voting power will remain unchanged, except for minor changes and adjustments that will result from the treatment of fractional shares. The rights and privileges of the holders of shares of Common Stock will be substantially unaffected by the Reverse Stock Split.

Stockholders who are holding their shares in electronic form at brokerage firms do not need to take any action, as the effect of the Reverse Stock Split will automatically be reflected in their brokerage accounts. Stockholders holding paper certificates may (but are not required to) send the certificates to the Company's transfer agent and registrar, VStock Transfer, LLC, who will issue a new stock certificate reflecting the Reverse Stock Split to each requesting stockholder.

About Phoenix Motor Inc.

Phoenix Motor Inc. is redefining commercial transportation with smart, zero-emission electric vehicles. Through our two brands - PhoenixEV (America manufacturing for America market) and EdisonFuture (International resources for international market) - we deliver a full range of heavy-, medium-, and light-duty EVs, from transit and shuttle buses to delivery vans and trucks.

With cutting-edge electric drive systems and seamless integration of autonomous driving technologies, Phoenix is driving the future of sustainable transit, logistics, and community mobility - in the U.S. and beyond. To learn more, please visit: phoenixev.ai.

Forward-Looking Statements

Certain information contained in this press release consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties and assumptions that are difficult to predict. Words such as "will," "would," "may," "intends," "potential," and similar expressions, or the use of future tense, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including market and other conditions. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the SEC. Investors and security holders are urged to read these documents free of charge on the SEC's web site at www.sec.gov. The forward-looking statements contained in this press release speak only as of the date of this press release and the Company undertakes no obligation to publicly update any forward-looking statements to reflect changes in information, events or circumstances after the date of this press release, unless required by law.

Contact:

Denton Peng, CEO
Phoenix Motor Inc.
1-916-622-5531
Denton@phoenixev.ai

SOURCE: Phoenix Motor Inc.

View the original press release on ACCESS Newswire

FAQ

What is the PEVM reverse stock split ratio and effective date?

The reverse split is 1-for-10, effective at the close of trading on February 13, 2026. According to the company, trading will reflect the split-adjusted shares on the OTC Markets at market open on February 17, 2026.

How many PEVM shares will be outstanding after the reverse split?

After the 1-for-10 reverse split, the company will have approximately 1,338,235 shares outstanding. According to the company, this converts from the current ~13,382,349 shares by dividing outstanding shares by ten.

Will PEVM pay cash for fractional shares resulting from the split?

No, the company will not pay cash or other consideration for fractional shares. According to the company, fractional results will be rounded up to the nearest whole share with no cash payout.

Will the PEVM par value or authorized share counts change after the split?

No, the reverse split does not change par value or the number of authorized common or preferred shares. According to the company, only issued and outstanding shares are being consolidated by the split.

Do PEVM shareholders need to take action for the reverse split?

Most shareholders holding electronic shares at brokerages need not act; changes post automatically. According to the company, paper certificate holders may send certificates to VStock Transfer, LLC to receive updated stock certificates if they request one.