$EVTV Executes Transformational AZIO AI Acquisition Framework at $3.00 Per Share
January 06 2026 - 7:05AM
ACCESS Newswire
EVTV Board of Directors Approves Amended and Restated LOI with AZIO AI at $3.00 Per Share, Subject to Independent Third-Party Valuation
HOUSTON, TX / ACCESS Newswire / January 6, 2026 / Envirotech Vehicles, Inc. (NASDAQ:EVTV) ("EVTV" or the "Company"
today announced that it has entered into an Amended and Restated Letter of Intent ("LOI" with AZIO AI Corporation ("AZIO AI" , pursuant to which EVTV would acquire 100% of the issued and outstanding equity interests of AZIO AI through a merger transaction.
The LOI reflects preliminary understandings only and does not create any obligation on behalf of either party with respect to the contemplated transaction, except with respect to customary exclusivity, no-shop, confidentiality and expense provisions. The contemplated transaction remains subject to the negotiation and execution of a definitive agreement, completion of due diligence, receipt of required regulatory approvals, approval by the boards of directors and shareholders of both companies, and other customary closing conditions. There can be no assurance that a definitive agreement will be executed or that the contemplated transaction will be consummated.
The executed LOI establishes a transaction framework under which AZIO AI would become a wholly owned subsidiary of EVTV, representing a potential strategic transformation of EVTV's business, leadership structure, and long-term platform focus toward advanced artificial intelligence infrastructure and high‑performance computing. https://www.accessnewswire.com/newsroom/en/au...re-1124320
January 06 2026 - 7:05AM
ACCESS Newswire
EVTV Board of Directors Approves Amended and Restated LOI with AZIO AI at $3.00 Per Share, Subject to Independent Third-Party Valuation
HOUSTON, TX / ACCESS Newswire / January 6, 2026 / Envirotech Vehicles, Inc. (NASDAQ:EVTV) ("EVTV" or the "Company"
today announced that it has entered into an Amended and Restated Letter of Intent ("LOI" with AZIO AI Corporation ("AZIO AI" , pursuant to which EVTV would acquire 100% of the issued and outstanding equity interests of AZIO AI through a merger transaction. The LOI reflects preliminary understandings only and does not create any obligation on behalf of either party with respect to the contemplated transaction, except with respect to customary exclusivity, no-shop, confidentiality and expense provisions. The contemplated transaction remains subject to the negotiation and execution of a definitive agreement, completion of due diligence, receipt of required regulatory approvals, approval by the boards of directors and shareholders of both companies, and other customary closing conditions. There can be no assurance that a definitive agreement will be executed or that the contemplated transaction will be consummated.
The executed LOI establishes a transaction framework under which AZIO AI would become a wholly owned subsidiary of EVTV, representing a potential strategic transformation of EVTV's business, leadership structure, and long-term platform focus toward advanced artificial intelligence infrastructure and high‑performance computing. https://www.accessnewswire.com/newsroom/en/au...re-1124320
