Investornewsbreaks Envirotech Vehicles, Inc. (NASDAQ: EVTV) Enters Amended LOI To Acquire AZIO AI In Proposed Merger Transaction

(MENAFN- Investor Brand Network) Envirotech Vehicles (NASDAQ: EVTV) announced it has entered into an amended and restated letter of intent with AZIO AI Corporation under which EVTV would acquire 100 percent of the issued and outstanding equity interests of AZIO AI through a statutory merger, subject to customary conditions and the execution of a definitive agreement. Under the proposed transaction, AZIO AI would become a wholly owned subsidiary of EVTV in what the company described as a potential strategic transformation toward advanced artificial intelligence infrastructure and high-performance computing, with AZIO AI CEO Chris Young expected to assume the role of chief executive officer of EVTV at closing. The nonbinding LOI reflects a preliminary transaction framework assuming an enterprise value of $480 million for AZIO AI and a reference value of $3.00 per share of EVTV common stock, subject to due diligence, regulatory approvals, board and shareholder approvals, and independent third-party valuation, with no assurance that a definitive agreement will be executed or the transaction consummated.

To view the full press release, visit

ABOUT ENVIROTECH VEHICLES, INC.

Envirotech Vehicles, Inc. (NASDAQ: EVTV ) is a technology-focused company pursuing strategic initiatives designed to enhance long-term shareholder value through platform transformation, operational realignment, and selective acquisitions.

More information is available on the company's website at

About InvestorWire

InvestorWire (“IW”) is a specialized communications platform with a focus on advanced wire-grade press release syndication for private and public companies and the investment community. It is one of 75+ brands within the Dynamic Brand Portfolio IBN: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries ; (2) article and editorial syndication to 5,000+ outlets ; (3) enhanced press release enhancement to ensure maximum impact ; (4) social media distribution via IBN to millions of social media followers ; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, IW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today's market, IW brings its clients unparalleled recognition and brand awareness. IW is where breaking news, insightful content and actionable information converge.

For more information, please visit

Please see full terms of use and disclaimers on the InvestorWire website applicable to all content provided by IW, wherever published or re-published: /Disclaimer

InvestorWire
Austin, Texas

512.354.7000 Office
[email protected]

InvestorWire is powered by IBN

MENAFN06012026000224011066ID1110563573