Mergers & Acquisitions ·
On July 2, 2026, Envirotech Vehicles, Inc. completed the acquisition of Azio AI Corporation
EVTVAzio AI Holdings, Inc.
On July 2, 2026, Envirotech Vehicles, Inc. completed the acquisition of Azio AI Corporation. As consideration, the company issued 2,460,351 shares of common stock and 973,450 shares of Series A Non-Voting Convertible Preferred Stock, with the latter convertible into common stock at a 100:1 ratio pending stockholder approval. The company also assumed $150,000 in convertible notes. Concurrent with the merger, Phillip W. Oldridge resigned as Chairman, CEO, and director; Chris Young was appointed as CEO and a Class II director. The company intends to seek stockholder approval to change its name to Azio AI Holdings, Inc. and adopt a new equity incentive plan. Envirotech Vehicles, Inc. operates in the vehicle and technology sector, focusing on the manufacture of medical supplies and integrated AI vehicle solutions.