Envirotech Vehicles enters A&R SEPA with YA II PN for $3M pre-paid advance and up to $25M equity commitment

Envirotech Vehicles, Inc.

$2M of $3M pre-paid advance disbursed Oct 31, 2024; remaining $1M after registration effective.
Convertible promissory notes: 0% interest (18% on default), mature Nov 13, 2025, conversion price lower of $2.1480 or 93% of lowest 5-day VWAP (floor $0.3580).
Company may require investor to purchase up to $25M of common stock until Nov 1, 2027, subject to exchange cap of 3,297,883 shares (19.99% of outstanding).
Issuance exempt from registration under Section 4(a)(2) of Securities Act.

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