Envirotech Vehicles, Inc. (EVTV) to Merge with AZIO AI Corp. at $750 Million Valuation
May 20, 2026
AZIO AI executed a definitive merger agreement with Envirotech Vehicles, Inc. to create a U.S.-focused AI infrastructure and compute platform, supported by an independent third-party fairness opinion. The transaction is structured at a $750 million valuation, with EVTV to issue 100 million shares of its common stock; closing is expected in the second half of 2026 subject to SEC and shareholder approvals.
- Buyers
- Envirotech Vehicles, Inc. (NASDAQ: EVTV)
- Targets
- AZIO AI Corp., AZIO Corp's AI infrastructure division (as described as part of the transaction assets)
- Industry
- AI & Machine Learning
- Location
- California, United States
- Transaction Type
- Buyout
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