NEWS
Envirotech Vehicles, Inc. (NASDAQ: EVTV) Expects to Access $25 million in Funding from Yorkville Advisors Global LP
Envirotech Vehicles (NASDAQ: EVTV)announced access to $25 million in funding from Yorkville Advisors Global LP through a standby equity purchase agreement (SEPA).
The agreement allows EVTV to sell shares at 96-97% of market value over 36 months. Yorkville advanced $2 million via a convertible note due November 2025, with an additional $1 million pending.
The funding will support scaling up manufacturing at EVTV's Osceola, Arkansas facility and fulfilling existing orders for electric buses, vans, and trucks. The company issued 64,103 shares as a commitment fee and paid $25,000 as a structuring fee to Yorkville.
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