Electric vehicle maker Envirotech Vehicles Inc. of Osceola plans to hold an initial public offering to raise capital and has applied to uplist its stock on Nasdaq, according to a report filed Wednesday with the Securities & Exchange Commission.
Its stock is currently traded on the OTCQX, and would trade on the Nasdaq under the symbol “EVTV.”
Envirotech Vehicles is the result of predecessor Adomani’s 2021 purchase of and merger with Envirotech Drive Systems. Adomani went public on Nasdaq in 2017 but was delisted two years later.
While the company widened its losses in the most recent quarter and full year, it sold more vehicles and expects demand to increase.