Envirotech Vehicles Announces 1-for-10 Reverse Stock Split

Envirotech Vehicles has announced a 1-for-10 reverse stock split, effective August 6, 2025. The Company's common stock will begin trading on a split-adjusted basis on August 8, 2025. The reverse stock split will reduce the number of outstanding shares from approximately 35.3 million to 3.5 million. No fractional shares will be issued, and registered stockholders will automatically receive an additional share of common stock.

Envirotech Vehicles, Inc. (NASDAQ: EVTV) has announced a 1-for-10 reverse stock split, effective August 6, 2025. The Company's common stock will begin trading on a split-adjusted basis on August 8, 2025. The reverse stock split will reduce the number of outstanding shares from approximately 35.3 million to 3.5 million [1].

The reverse stock split will combine every ten shares of Envirotech's issued and outstanding common stock into one share without changing the par value per share or the total number of authorized shares. Fractional shares will not be issued; instead, stockholders who hold a number of shares not evenly divisible by the final ratio will automatically receive an additional share of common stock [1].

No action is required from stockholders holding shares electronically or in street name, as positions will be automatically adjusted by their brokerages. Proportional adjustments will also be made to outstanding stock options, warrants, and equity incentive plans [1].

The reverse stock split aims to boost the share price, often done to meet exchange listing requirements, such as the Nasdaq's $1 minimum bid price. The timing and unanimous board approval suggest this is likely a compliance-driven decision rather than a strategic growth initiative. Importantly, this action does not fundamentally change the company's overall value or operations—it is essentially a mathematical reconfiguration [2].

Envirotech's transfer agent, Issuer Direct Corporation, will serve as the exchange agent for the reverse stock split. Additional information about the reverse stock split can be found in Envirotech's definitive proxy statement filed with the Securities and Exchange Commission on April 1, 2025, available at www.sec.gov [1].

References:
[1] https://www.sacbee.com/press-releases/article311604715.html
[2] https://www.stocktitan.net/news/EVTV/envirotech-vehicles-inc-announces-reverse-stock-6ko206714zuz.html