Phoenix Motor Has Signed A Non-binding Convertible Bond Term Sheet Of Up To $300M In Funding With A California-based Investor To Support The Potential Acquisition Opportunity Of Commercial Electric Vehicle Assets For Which Phoenix Has Submitted Interest
Portfolio Pulse from Benzinga Newsdesk
Phoenix Motor has signed a non-binding convertible bond term sheet of up to $300M with a California-based investor. The funding is intended to support the potential acquisition of commercial electric vehicle assets, for which Phoenix has expressed interest.
October 02, 2023 | 11:27 am
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Phoenix Motor's potential acquisition of commercial electric vehicle assets could lead to an increase in the company's value and growth prospects.
The news of Phoenix Motor's potential acquisition of commercial electric vehicle assets indicates a strategic move towards expanding its business and market share in the electric vehicle industry. This could potentially increase the company's value and growth prospects, leading to a positive impact on its stock price.
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