Envirotech Vehicles, Inc.

Azio AI Holdings, Inc. has secured a $2.3 million unsecured revolving credit facility from Azio Corporation. The agreement, effective October 21, 2026, includes previously advanced funds totaling $2.225 million. The facility matures one year from the effective date, with interest set at 8.5% per annum. Funds are intended for working capital and other corporate purposes. Notably, Chi Wei David Shiue, CEO and majority shareholder of the Lender, is also the former Chief Business Development Officer of the Company.

Envirotech Vehicles, Inc. has officially rebranded to Azio AI Holdings, Inc., effective July 9, 2026, following its merger with Azio AI. The company's common stock will begin trading under the new ticker symbol "AZIO" on The Nasdaq Capital Market starting July 13, 2026. This strategic transformation aligns the company's identity with its new focus as a dedicated AI infrastructure platform. Concurrently, Azio AI announced a significant AI infrastructure hosting agreement with Power Champion Investment Limited, valued at approximately $27.9 million for an initial 3.1 MW deployment, with expansion rights that could increase the total contract value to $100 million. Additionally, Chris Young, CEO, was appointed Chairman of the Board.

Envirotech Vehicles, Inc. (EVTV) announced the successful completion of its merger with Azio AI Corporation on July 2, 2026, accelerating its strategic pivot towards AI data centers, enterprise GPU compute, and digital power infrastructure. The revised transaction structure allowed for an immediate closing, enabling the combined company to focus on commercialization in the rapidly growing AI infrastructure market, projected to reach $487 billion in global spending by 2026. In connection with the merger, Chris Young was appointed CEO and Chairman, Simon Yu as President, and Jason Maddox as CFO, while former CEO Phillip Oldridge stepped down.

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."

Envirotech Vehicles, Inc. announced an amendment to its Amended and Restated Bylaws, effective June 27, 2026. The amendment changes the quorum requirement for stockholder meetings from a majority to one-third (1/3) of the shares of capital stock entitled to vote. This change also applies to separate class or series votes, requiring one-third (1/3) of the shares of such class or series for a quorum.

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.