Envirotech Vehicles enters amended, restated LOI with AZIO AI

Envirotech Vehicles (EVTV) announced that it has entered into an Amended and Restated Letter of Intent, LOI, with AZIO AI Corporation, AZIO AI, pursuant to which EVTV would acquire 100% of the issued and outstanding equity interests of AZIO AI through a merger transaction. Under the terms outlined in the LOI, the contemplated transaction would be structured as a statutory merger, pursuant to which a newly formed subsidiary of EVTV would merge into AZIO AI at closing. Upon completion of the merger, AZIO AI would continue as the surviving entity and a wholly owned subsidiary of EVTV.