Sankar Das Gupta Exercises Warrants to Acquire Common Shares of Electrovaya Inc.

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[{"type":"text","content":"Sankar Das Gupta Exercises Warrants to Acquire Common Shares of Electrovaya Inc. TORONTO, ONTARIO / ACCESS Newswire / January 20, 2026 / Electrovaya Inc. (Nasdaq:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, announces that Dr. Sankar Das Gupta (the \"Acquirer\"), a director and Chairman of the Board of Directors of Electrovaya Inc. (\"Electrovaya\") exercised 1,420,000 warrants (\"Warrants\") to purchase common shares (each, a \"Common Share\") at an exercise price of $0.90 per Common Share, acquiring an equivalent number of Common Shares on the exercise. Immediately prior to the exercise, the Acquirer owned 10,270,751 Common Shares on a non-diluted basis, representing approximately 21.40% of the outstanding Common Shares, 605,000 options entitling the Acquirer to purchase an additional 605,000 Common Shares, and 1,420,000 Warrants entitling the Acquirer to purchase an additional 1,420,000 Common Shares. If the Acquirer were to have exercised all options and Warrants held, and assuming no other new issuances of Common Shares at or prior to such exercise, the Acquirer would have owned an aggregate of 12,295,751 Common Shares, representing approximately 24.58% of the then outstanding Common Shares.Following the exercise, the Acquirer owns 11,690,751 Common Shares on a non-diluted basis, representing approximately 23.66% of the outstanding Common Shares, and 605,000 options to purchase Common Shares, entitling the Acquirer to purchase an additional 605,000 Common Shares. If the Acquirer were to exercise all his remaining options, and assuming no other new issuances of Common Shares at or prior to such exercise, the Acquirer would own an aggregate of 12,295,751 Common Shares, representing approximately 24.58% of the then outstanding Common Shares.The Acquirer exercised the Warrants as an investment in the Company in consideration of the current market price of the Common Shares and the exercise price and expiry date of the Warrants. The Acquirer may, from time to time in the future, increase or decrease direct or indirect ownership, control or direction over the Common Shares, Warrants or other securities of Electrovaya through market transactions, private agreements, subscriptions from treasury or otherwise, subject to applicable securities laws. The Acquiror has no present plans or intentions...

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