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Phoenix Motor Inc. is asking stockholders to approve several key governance items at its 2025 annual meeting on December 23, 2025. Stockholders will vote to elect five directors, ratify Summit Group CPAs as independent auditor for 2025, authorize a reverse stock split of up to 1-for-10 and a related charter amendment, and ratify a bylaw change to reduce the quorum requirement for future meetings.
The reverse stock split is intended to increase the share price to help the company meet minimum bid and other quantitative standards needed to relist on Nasdaq or another national exchange after its stock moved to the OTC Pink market under the symbol PEVM. Each holder would own fewer shares but keep the same proportional ownership, with fractional shares rounded up.
The Board recommends voting "FOR" all proposals. As of the November 24, 2025 record date, there were 12,917,508 common shares outstanding, and entities affiliated with EdisonFuture and Palo Alto Clean Tech Holding Limited beneficially owned about 47.3% of the stock and are expected to support all proposals.
Phoenix Motor Inc.: Nasdaq filed a Form 25 to remove the company’s common stock from listing and/or registration under Section 12(b) of the Exchange Act. The filing states the Exchange complied with Rule 12d2-2(b) for striking the class, and the issuer complied with Rule 12d2-2(c) governing voluntary withdrawal from listing and registration.
This notice covers the company’s common stock on the Nasdaq Stock Market LLC and reflects the Exchange’s certification that it meets the requirements to submit Form 25.
Phoenix Motor Inc. reported Q3 2025 results with lower sales and continuing losses. Revenue was
Liquidity remains tight. Cash and cash equivalents were
The warranty reserve decreased to