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SPI Energy files IPO for electric vehicle unit, Phoenix Motor

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SPI Energy files IPO for electric vehicle unit, Phoenix Motor
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Phoenix Motor Inc., an Anaheim, Calif.-based electric vehicle maker and a unit of SPI Energy Co Ltd. , on Monday filed its initial public offering with plans to raise up to $150 million. Phoenix Motor Inc. plans to trade on the Nasdaq under the symbol "PEV" with underwriters Maxim Group LLC, Roth Capital Partners and EF Hutton. The company reported a net loss of $3.4 million and revenue of $4.1 million between Jan. 1, 2020 and Nov. 12, 2020, compared to a net loss of $6 million and revenue of $4