Envirotech Vehicles enters $5M convertible note financing; Note EVTV-1 maturity extended to 2026

Envirotech Vehicles, Inc.

Entered supplemental agreement for $5M additional prepaid advance under SEPA; first tranche $3M advanced (net ~$2.7M) on Feb 25, 2025.
Second tranche $2M subject to stockholder approval for shares beyond Exchange Cap; notes convertible at lower of $1 or 93% of 5-day VWAP (floor $0.0713).
Note EVTV-1 maturity extended to March 9, 2026; floor price reduced to $0.0713; interest 5% (18% on default).
Disclosed cash ~$3.0M and monthly burn ~$600k as of Feb 5, 2025; proceeds expected to extend runway.

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