Phoenix Motor Inc.

Phoenix Motor Inc. (PEV) priced its initial public offering on Jun 9, 2022 at $7.50 per share, within its $7.00–$9.00 range, raising $15.8M, and listed on Nasdaq Capital Market. At the IPO price its market capitalization was about $147M. Loeb & Loeb advised the company and Robinson & Cole advised the underwriters.

Phoenix Motor Inc. does business as Phoenix Motorcars and designs, assembles and integrates electric drive systems and light and medium duty electric vehicles. It also markets and sells electric vehicle chargers for commercial and residential markets.

Status

IPO

Ticker

PEV

Exchange

Nasdaq Capital Market

Priced

Jun 9, 2022

IPO price

$7.50

Price range

$7.00–$9.00

Raised

$15.8M

Market cap at IPO price

$147M

First filed

Nov 29, 2021

Company counsel

Loeb & Loeb

Underwriters' counsel

Robinson & Cole

Sector

Industrials & materials

Country / state

CA

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.