Envirotech Vehicles Announces Plans to List its Shares on Nasdaq

Rhea-AI Summary

Envirotech Vehicles (OTCQX:EVTV) has applied for listing on the Nasdaq Capital Market, aiming to enhance its visibility and value among investors in the electric vehicle sector. The company plans a reverse stock split to meet Nasdaq's minimum share price requirements. CEO Phillip Oldridge expressed optimism that the uplisting would facilitate strategic operations and increase brand awareness amidst the industry's transition to greener transportation. The plan remains subject to Nasdaq's approval and necessary listing criteria.

Positive

• Application filed for listing on Nasdaq to increase visibility.
• Planned reverse stock split to meet share price requirements.
• Management believes uplisting will enhance company value.

Negative

• Uplisting remains subject to Nasdaq approval and listing requirements.

OSCEOLA, AR / ACCESSWIRE / June 22, 2022 / Envirotech Vehicles, Inc. (OTCQX:EVTV), a provider of new zero-emission, purpose-built electric vehicles (the "Company"), today announced that it has filed an application to commence its previously announced planned listing of the Company's securities on the Nasdaq Capital Market ("Nasdaq").

The Company believes an uplisting to Nasdaq will raise its visibility and recognition among investment community audiences. Nasdaq is the world's leading exchange for technology companies, including emerging markets such as the electric vehicles sector. Envirotech Vehicles' management believes an uplisting will enhance the Company's value. The listing of the Company's common shares on Nasdaq remains subject to the approval of that exchange and the satisfaction of all applicable listing requirements. In preparation for the uplisting, the Company plans to execute a reverse stock split to satisfy the minimum share price requirement.

Phillip Oldridge, CEO of Envirotech Vehicles, commented, "We believe an uplisting to Nasdaq will enhance our visibility among investor audiences, add additional flexibility to execute our strategic and operational plans and heighten awareness of the Envirotech Vehicles brand. This is an exciting time for our industry and our Company as businesses and fleet owners transition to greener transportation and we remain focused on building the business and driving enhanced value for our shareholders."

About Envirotech Vehicles

Envirotech Vehicles, Inc. is a provider of purpose-built zero-emission electric vehicles focused on reducing the total cost of vehicle ownership and helping fleet operators unlock the benefits of green technology. We serve commercial and last-mile fleets, school districts, public and private transportation service companies and colleges and universities to meet the increasing demand for heavy-duty electric vehicles. Our vehicles address the challenges of traditional fuel price cost instability and local, state and federal environmental regulatory compliance. For more information visit https://evtvusa.com/investor-relations/.

Cautionary Statement Regarding Forward-Looking Statements

Statements made in this press release that relate to future plans, events, financial results, prospects or performance are forward-looking statements. While they are based on the current expectations and beliefs of management, such forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from the expectations expressed in this press release, including the risks and uncertainties disclosed in reports filed by Envirotech Vehicles, Inc. with the Securities and Exchange Commission, all of which are available online at www.sec.gov. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words "planned," "expected," "believes," "strategy," "opportunity," "anticipated," "outlook," "designed," and similar words. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by law, Envirotech Vehicles undertakes no obligation to update or revise any forward-looking statements to reflect new information, changed circumstances or unanticipated events.

Contact Information

IMS Investor Relations
John Nesbett/Jennifer Belodeau
Telephone: 203.972.9200
Email: evtv@imsinvestorrelations.com

Press Inquiries
Kristen Nicholson, APR
Telephone: (501) 350-3658
Email: knicholson@mhpteamsi.com

Envirotech Vehicles
Susan Emry, Executive Vice President
Telephone: (870) 970-3355 ext. 1001
Email: sue.e@evtvusa.com

SOURCE: Envirotech Vehicles, Inc

View source version on accesswire.com:
https://www.accesswire.com/706110/Envirotech-Vehicles-Announces-Plans-to-List-its-Shares-on-Nasdaq

FAQ

What is Envirotech Vehicles planning with Nasdaq?

Envirotech Vehicles has filed an application to list its securities on the Nasdaq Capital Market to enhance visibility and value.

What action is Envirotech Vehicles taking regarding its stock?

The company plans a reverse stock split to satisfy Nasdaq's minimum share price requirement.

When did Envirotech Vehicles announce its Nasdaq listing plans?

The announcement was made on June 22, 2022.

What is the stock symbol for Envirotech Vehicles?

The stock symbol for Envirotech Vehicles is EVTV.

Who commented on the Nasdaq uplisting plans?

CEO Phillip Oldridge commented on the uplisting, highlighting its potential benefits for investor visibility and brand awareness.