Envirotech Vehicles, Inc.

Envirotech Vehicles, Inc. (EVTV) has entered into a definitive merger agreement with AZIO AI Corporation, marking a strategic transformation for EVTV into an artificial intelligence infrastructure and compute platform. As part of the merger, EVTV will issue 100 million shares of its common stock to AZIO AI stockholders, who are expected to hold approximately 89% of the combined company. The new entity will focus on domestic AI deployment, data center operations, and compute capacity expansion, with initial operational advancements including securing 11 MW of power capacity and receiving deposits for a $118 million infrastructure order. The company also plans to change its name to Azio AI Holdings, Inc. and appoint new leadership.

Envirotech Vehicles reported a narrowed net loss of $3.99 million for the first quarter of 2026, a significant improvement from the $14.04 million loss in the prior year, largely due to the absence of a goodwill impairment charge. Net sales increased to $2.25 million, primarily from its medical supplies segment, with no revenue from electric vehicle sales. Despite improved cash and equity positions, the company reported a gross loss and issued a going concern warning, citing substantial doubt about its ability to continue operations.

Envirotech Vehicles, Inc. received a notice from Nasdaq on April 29, 2026, indicating non-compliance with the minimum stockholders' equity requirement of $2,500,000. The company's equity was below this threshold as reported in its 2025 Form 10-K, and it also fails alternative listing standards. This notice has no immediate impact on the stock's trading, and the company has until June 13, 2026, to submit a plan to regain compliance. If accepted, an extension until October 26, 2026, may be granted, but there is no assurance of success.

Envirotech Vehicles, Inc. (EVTV) filed an S-1 registration statement for the resale of up to 11,291,778 shares of common stock by YA II PN, LTD. These shares are primarily associated with an amended and restated standby equity purchase agreement (A&R SEPA) and warrants. While the company is not selling shares directly in this prospectus, it may receive up to $13.5 million from future sales to the Selling Securityholder under the A&R SEPA. EVTV also announced a strategic shift towards power-backed hardware technology, including AI compute infrastructure, drone systems, and medical supplies, while moderating its EV segment expansion due to market conditions and tariffs.

Envirotech Vehicles, Inc. has filed its annual report on Form 10-K for the fiscal year ended December 31, 2025. The company confirmed its status as a non-accelerated filer and a smaller reporting company. This filing indicates the company's ongoing compliance with SEC reporting obligations, with its common stock listed on the Nasdaq Stock Market LLC.

Envirotech Vehicles, Inc. has filed its annual report on Form 10-K for the fiscal year ended December 31, 2025. The company is designated as a non-accelerated filer and a smaller reporting company. Its common stock is traded on the Nasdaq Stock Market LLC under the symbol EVTV, and the company confirmed it has filed all required reports during the preceding 12 months.