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HOUSTON - Envirotech Vehicles, Inc. (NASDAQ:EVTV), currently trading at $0.24 per share after falling over 85% in the past year, announced today that it will implement a 1-for-10 reverse stock split of its common stock, effective August 6, 2025, at 5:00 p.m. Eastern Time. According to InvestingPro data, the company’s market capitalization stands at just $6.25 million.
The company’s shares are expected to begin trading on a split-adjusted basis on the Nasdaq Capital Market on August 8, 2025, under the same ticker symbol "EVTV" but with a new CUSIP number: 29414V 308.
The reverse split will reduce Envirotech’s outstanding common shares from approximately 35.3 million to 3.5 million. The company’s stockholders approved the action at a Special Meeting on May 1, 2025, granting the board authority to determine the exact split ratio.
No fractional shares will be issued as a result of the split. Stockholders who would otherwise receive fractional shares will automatically receive an additional whole share, effectively rounding up any fractional ownership.
Registered stockholders holding shares electronically in book-entry form are not required to take any action to receive post-split shares. Those holding shares in brokerage accounts or "street name" will have their positions automatically adjusted according to their brokers’ processes.
Proportional adjustments will be made to Envirotech’s outstanding stock options and warrants, including their exercise prices, as well as to shares issuable under the company’s equity incentive plan and other existing agreements.
Envirotech Vehicles describes itself as a provider of electric commercial vehicles. While analysts expect sales growth and profitability this year, InvestingPro data shows the company is currently burning through cash rapidly. The information in this article is based on a company press release. InvestingPro subscribers have access to 18 additional key insights about EVTV’s financial health and market position.
In other recent news, Envirotech Vehicles, Inc. has made significant strides in its electric school bus operations. The company has delivered its first EVT Bumble Bee electric school buses to independent school districts in Freer, Blanket, and Waelder, Texas, marking the start of full commercial operations in this sector. These deliveries are part of the U.S. Environmental Protection Agency’s Clean School Bus Program, which funds the replacement of traditional school buses with zero-emission alternatives. Additionally, Envirotech delivered an EVT Bumble Bee electric school bus to the Kopperl Independent School District in Texas, further supporting the program’s goals.
Envirotech has also announced plans to broaden its electric mobility solutions across various transportation sectors, including land, air, and sea. The company is aiming to develop a "unified ecosystem" targeting agricultural drones, commercial drone services, and electric watercraft markets. This expansion complements its existing focus on electric commercial vehicles, such as buses, trucks, and vans. These recent developments reflect Envirotech’s commitment to advancing electric mobility across multiple markets.
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