Business: Phoenix Energy One, LLC Series A Cumulative Redeemable Preferred Shares liquidation preference $25 per share, redeemable at the issuer's option at any time for $27.50 per share plus accrued and unpaid dividends, and with no stated maturity. <p> Cumulative distributions of 10% per annum ($2.50 per annum or $0.625 per quarter), from the issuance of the preferred until 10/15/2028 ; 10.50% per annum ($2.625 per annum or $0.65625 per quarter), on 10/15/2028 to 10/14/2029 and 11% per annum ($2.75 per annum or $0.6875 per quarter), on and after 10/15/2039 will be paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the record date fixed by the board, not more than (__) days or less than (__) days prior to the payment date (NOTE: the ex-dividend date is the record date). <p> Holders of the Preferred Units will receive specific tax information from the company, including a Schedule K-1 which generally would be expected to provide a single income item equal to the preferred return . <p> In regard to the payment of distributions and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.