debt
confidence high
sentiment negative
materiality 0.65
Azio AI signs $50M standby equity deal with Yorkville; $3.5M advance, 1.74M warrants at $0.01
Envirotech Vehicles, Inc.
- Standby Equity Purchase Agreement dated Sept 25, 2026 lets Azio sell up to $50M of common stock to YA II PN, Ltd. (Yorkville) at 96-97% of market price until Sept 25, 2029.
- $3.5M pre-paid advance in two tranches: $3.0M funded Sept 25, 2026, $0.5M after the resale registration statement goes effective; 6% interest, 18% on default, matures Sept 25, 2027.
- Notes convert at 92% of the lowest 5-day VWAP, subject to a $0.26 floor; resale registration covers up to 28,000,000 shares.
- Yorkville received warrants for 1,735,758 shares at $0.01 and a $50,000 structuring fee paid from initial advance proceeds.
- Exchange Cap limits issuance to 3,473,960 shares (19.99% of outstanding) unless stockholders approve or average sale price is at least $1.30.