What’s going on with Adomani?
Envirotech Vehicles (ADOM) today announced that its shareholders have approved a reverse stock split of 1 for 4 to 1 for 20 of the outstanding common shares, but the exact ratio of the consolidation will ultimately be determined by the Board of Directors. . The company’s shares were trading down 1.12% at $ 0.2749 on Tuesday.
What does this mean for Adomani?
Although neither the exact timing nor the exact reverse split ratio has been set, the Company intends to file a NASDAQ listing application, performing the reverse split in order to meet the trading price requirement. NASDAQ minimum.
“We would like to thank our shareholders who voted for the reverse split in support of our goal of moving to NASDAQ.” said Phillip Oldridge, CEO of Envirotech Vehicles. “We are excited about the prospect of a roster and intend to move the NASDAQ app as quickly as possible. “
The company has so far surpassed this year by making deals with transport companies providing fleets of electrified vehicles. One notable achievement was the signing of a factory authorized representative agreement with Hoglund Bus, which gave the Minnesota-based transportation industry leader the rights to promote, sell and service Envirotech products. across the United States.
ADOMANI, Inc. provides specially designed zero emission electric vehicles. The company also offers zero emission powertrains for integration into medium to heavy commercial fleet vehicles.
ADOM has a Short Term Technical Rank of 39. Find out what that means to you and get the rest of the ranking on ADOM!
Envirotech Vehicles Inc designs zero emission electric and hybrid transmission systems for integration into new school buses and medium to heavy commercial fleet vehicles. The company also designs patented refueling conversion kits to replace conventional transmission systems in combustion vehicles with zero-emission electric or hybrid transmission systems. Its product line includes high cab trucks and shuttle fleets.