SPI - SPI Energy's EV spinout Phoenix Motor prices $15.75M initial public offering debuts today

An electric drive system and vehicle maker and a subsidiary of SPI Energy (SPI),  Phoenix Motor (PEV) has priced its initial public offering of 2.1M shares of common stock at $7.50 per share, for total gross proceeds of $15.75M. Shares approved to be listed on Nasdaq and are expected to commence trading on June 8, 2022. Underwriters' over-allotment is an additional 315K shares. Offering is expected to close on June 10, 2022. The company intends to use the net proceeds for investment in its technology, research and development efforts, manufacturing, marketing, maintaining and expanding its intellectual property portfolio and for working capital and other general corporate purposes.

For further details see:

SPI Energy's EV spinout Phoenix Motor prices $15.75M initial public offering, debuts today