MergerJul 6, 2026, 08:08 AM
Envirotech Vehicles Acquires Azio AI; Plans Name Change
AI Summary
Envirotech Vehicles, Inc. completed the acquisition of Azio AI Corporation on July 2, 2026, through a two-step merger. As consideration, the company issued 2,460,351 shares of common stock and 973,450 shares of Series A Non-Voting Convertible Preferred Stock to Azio AI stockholders. Envirotech Vehicles will seek stockholder approval to convert the preferred stock, adopt an equity incentive plan, and change its corporate name to "Azio AI Holdings, Inc."
Key Highlights
- Envirotech Vehicles acquired Azio AI Corporation on July 2, 2026.
- Issued 2,460,351 common shares to Azio AI stockholders.
- Issued 973,450 Series A Preferred shares to Azio AI stockholders.
- Series A Preferred Stock convertible into 100 common shares each.
- Stockholder meeting to approve name change to "Azio AI Holdings, Inc."
- Merger structured as a tax-free reorganization under Section 368(a).
Price Impact
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