© Reuters. EV Maker Phoenix Motor (PEV) Opens 13% Lower in IPO
Today’s IPO for Phoenix Motor Inc. (PEV) opened for trading at $6.50 after pricing 2,100,000 shares of common stock at $7.50 per share.
Prime Number Capital LLC is acting as the sole book runner and representative of the underwriters. Revere Securities LLC and Westpark Capital, Inc. are acting as co-managers for the Offering.
Phoenix Motor is an EV company that designs, assembles, and integrates electric drive systems and light and medium duty EVs and markets and sells electric vehicle chargers for the commercial and residential market. They operate two primary brands, “Phoenix Motorcars” focused on commercial products including medium duty EVs, chargers and electric forklifts, and “EdisonFuture” which intends to offer light-duty EVs.
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