Business
AZIO AI Provides Additional Details on Letter of Intent with NASDAQ-Listed Envirotech Vehicles
AZIO AI Corporation ("AZIO AI"), a rapidly scaling AI infrastructure company delivering high-performance compute, modular data-center solutions, and applied AI platforms for governments, institutions, and enterprises worldwide, today provided additional details regarding the previously announced letter of intent ("LOI") outlining a potential business combination with Envirotech Vehicles, Inc. (NASDAQ: EVTV) ("EVTV").
About this update from Envirotech Vehicles, Inc.
[{"type":"text","content":"Transaction Framework Informed by Independent Third-Party Valuation of Approximately $480 Million","length":97,"tagName":"p"},{"type":"text","content":"LOS ANGELES, Dec. 18, 2025 /PRNewswire/ -- AZIO AI Corporation ("AZIO AI"), a rapidly scaling AI infrastructure company delivering high-performance compute, modular data-center solutions, and applied AI platforms for governments, institutions, and enterprises worldwide, today provided additional details regarding the previously announced letter of intent ("LOI") outlining a potential business combination with Envirotech Vehicles, Inc. (NASDAQ: EVTV) ("EVTV").","length":493,"tagName":"p"},{"type":"image","alt":"Azio AI (PRNewsfoto/Azio AI Corporation)","displaySize":"","headline":null,"caption":"Azio AI (PRNewsfoto/Azio AI Corporation)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":147,"url":"https://media.zenfs.com/en/prnewswire.com/02d93f695dfaf92b66f546fe34dc1656"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/.K_NAtVVMkkVpVw7Yz6kTw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTI1OTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/02d93f695dfaf92b66f546fe34dc1656","width":400,"height":147}},"href":"https://mma.prnewswire.com/media/2841989/AZIOAI_Vector_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The LOI outlines a transaction framework under which the parties are working toward a potential business combination to which EVTV would acquire 100 percent of the outstanding equity of AZIO AI, subject to the completion of due diligence, the negotiation and execution of definitive agreements, and receipt of all required shareholder and regulatory approvals.","length":360,"tagName":"p"},{"type":"text","content":"Transaction Framework","length":21,"tagName":"p"},{"type":"text","content":"Under the framework outlined in the LOI, the proposed transaction is informed by an independent third-party valuation of AZIO AI of approximately $480 million. If completed, AZIO AI is expected to serve as the primary operating entity, repositioning EVTV's long-term strategy to focus on AI infrastructure and applied artificial intelligence systems.","length":354,"tagName":"p"},{"type":"text","content":"Subject to definitive agreements, AZIO AI's executive leadership team and board of directors, led b...