Phoenix Motor Inc. Announces Reverse Stock Split of its Common Stock
Rhea-AI Summary
Phoenix Motor (OTC Pink:PEVM) has announced a 1-for-5 reverse stock split of its common stock, effective at the close of trading on July 31, 2025. The stock will begin trading on a split-adjusted basis on August 1, 2025, under the same symbol "PEVM" on the OTC Pink Limited Market.
The company's outstanding shares will be reduced from approximately 49,513,370 to 9,902,674. The reverse split will not affect stockholders' ownership percentages or voting rights, except for minor adjustments due to fractional shares. No fractional shares will be issued, and all fractional shares will be rounded up to the nearest whole share.
["No cash payments required for fractional shares - all rounded up to nearest whole share", "Stockholders' percentage ownership and voting rights remain largely unchanged", "Maintains same trading symbol for continuity"]Positive
- None.
Negative
- Trading on OTC Pink Limited Market indicates limited trading volume and visibility
- Significant reduction in outstanding shares could impact stock liquidity
News Market Reaction
On the day this news was published, PEVM gained 1.82%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
ANAHEIM, CA / ACCESS Newswire / July 31, 2025 / Phoenix Motor Inc. (OTC Pink:PEVM) (the "Company") today announced that its board of directors has adopted resolutions approving a reverse stock split of its common stock, par value
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) five (5), 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 49,513,370 shares of Common Stock outstanding. After the Reverse Stock Split, the Company would have approximately 9,902,674 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, a pioneer in the electric vehicle ("EV") industry, designs, builds, and integrates electric drive systems and manufactures heavy duty transit buses and medium and light duty commercial EVs. Phoenix operates two primary brands, "Phoenix", which is focused on commercial products including heavy and medium duty EVs (transit buses, shuttle buses, school buses and delivery trucks, among others) and "EdisonFuture", which intends to offer light-duty EVs. Phoenix endeavors to be a leading designer, developer and manufacturer of electric vehicles and electric vehicle technologies. To learn more, please visit: www.phoenixmotorcars.com.
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:
Dave Gentry, CEO
RedChip Companies, Inc.
1-407-644-4256
PEV@redchip.com
SOURCE: Phoenix Motor Inc.
View the original press release on ACCESS Newswire
FAQ
What is the reverse stock split ratio for Phoenix Motor (PEVM) and when is it effective?
How many shares will Phoenix Motor (PEVM) have outstanding after the reverse split?
Do PEVM shareholders need to take any action for the reverse stock split?
Will the Phoenix Motor reverse split affect shareholders' ownership percentage?
What happens to fractional shares in the PEVM reverse stock split?
