Company: PTHL
Filing Date: 2025-08-29
Form Type: 6-K
Source: 0001213900-25-082559
Chunk: 0

Company: Pheton Holdings Ltd
Filing Date: 2025-08-29
Form: 6-K
Chunk 0
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<div align='center'>UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of August 2025

Commission File Number: 001-42263

Pheton Holdings Ltd

Room 306, NET Building,

Hong Jun Ying South Road, Chaoyang District,

Beijing, China

(Address of principal executive office)</div>

Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F:

<div align='center'>Form 20-F ☒
Form 40-F ☐</div>

Information Contained in this Form 6-K Report

Entry into a Material Definitive Agreement.

On August 27, 2025, Pheton Holdings Ltd (the “Company”)
entered into a Stock Purchase Agreement (the “SPA”) with iTonic Corporation (“Target”) and certain shareholders
of the Target (collectively, the “Selling Shareholders”), pursuant to which the Company agreed to acquire, and the Selling
Shareholders agreed to sell, 51% of the total outstanding shares of the Target (the “Share Acquisition”). As consideration
for the Share Acquisition, the Company agreed to issue to the Selling Shareholders (i) 4,000,000 newly issued Class A ordinary shares
of the Company (the “Consideration Shares”), and (ii) warrants to purchase up to 3,000,000 Class A ordinary shares of the
Company (the “Warrants”).

The Target develops and provides a home health
platform with integrated and automated components, including medication dispensing, supply chain management, virtual care, and patient
monitoring. The platform combines hardware and software to deliver medications in the home while also supporting care coordination for
patients. The Target is making efforts to deploy the platform across a growing national network of patients, supporting daily care and
long-term health management.

Pursuant to the SPA, the Selling Shareholders
agreed to enter into lock-up agreements with respect to the Consideration Shares. The Consideration Shares will be subject to release
from lock-up upon the achievement of agreed-upon performance milestones set forth in the SPA, which are tied to sales volume and sales
revenue generated by the