Sankar Das Gupta Exercises Warrants to Acquire Common Shares of Electrovaya Inc.

Electrovaya (Nasdaq:ELVA / TSX:ELVA) announced that director and chairman Dr. Sankar Das Gupta exercised 1,420,000 warrants to acquire 1,420,000 common shares at an exercise price of $0.90 per share on January 20, 2026.

Rhea-AI Summary

Electrovaya (Nasdaq:ELVA / TSX:ELVA) announced that director and chairman Dr. Sankar Das Gupta exercised 1,420,000 warrants to acquire 1,420,000 common shares at an exercise price of $0.90 per share on January 20, 2026.

Immediately prior to the exercise he held 10,270,751 shares (~21.40%), and following the exercise he holds 11,690,751 shares (~23.66%). He still holds 605,000 options; if those options are later exercised (and assuming no other issuances), his ownership would reach 12,295,751 shares (~24.58%). The company provided contact details for investor relations for the corresponding regulatory report.

Positive

• Insider exercised 1,420,000 warrants at $0.90 each
• Exercise increased insider stake from 21.40% to 23.66%
• Warrant exercise generated approximately $1,278,000 in proceeds

Negative

• Single shareholder concentration rose to 23.66%, increasing control concentration
• Outstanding 605,000 options could raise insider stake to 24.58%

Argus Jan 20 session

+8.04% close to close Open Argus

Details

News Market Reaction – ELVA

On Jan 20, the day this news came out, ELVA closed 8.04% above the previous close.

Data tracked by StockTitan Argus for the Jan 20 session.

Market Context

On Jan 20, the day this news came out, the stock closed 8.0% above the previous close. A strong posi...

Analysis

On Jan 20, the day this news came out, the stock closed 8.0% above the previous close. A strong positive reaction aligns with an insider increasing exposure through warrant exercise at $0.90 while the stock traded around $9.82. Historical data show the stock reacting sharply to capital-related events, such as the -7.86% move on the US$28.1M offering. Investors could weigh this added insider commitment against past dilution and the concentration of ownership above 23% when assessing durability of the move.

Key Figures

Warrants exercised: 1,420,000 warrants Exercise price: $0.90 per share Post-exercise shares: 11,690,751 shares +5 more

Warrants exercised

1,420,000 warrants

Common share purchase warrants exercised by chairman

Exercise price

$0.90 per share

Exercise price of the 1,420,000 warrants

Post-exercise shares

11,690,751 shares

Common shares owned after warrant exercise

Ownership stake

23.66%

Post-exercise non-diluted ownership of outstanding shares

Options remaining

605,000 options

Options entitling purchase of additional common shares

Fully diluted holding

12,295,751 shares

Potential total shares if remaining options exercised

Potential ownership

24.58%

Ownership if all remaining options are exercised

Share price

$9.82

Pre-news current price vs $0.90 warrant exercise

Historical Context

5 past events · Latest: Dec 10

5 events

1. Dec 10

   Full-year earnings

   24h Move

   +0.0%

   Record FY2025 revenue, EBITDA growth, first net profit, positive cash flow.

2. Nov 25

   Earnings date set

   24h Move

   +6.9%

   Announcement of FY2025 results release date and conference call details.

3. Nov 19

   Business update

   24h Move

   -1.3%

   Jamestown facility financing progress and confirmation of insider share purchases.

4. Nov 12

   Investor conferences

   24h Move

   +0.2%

   Participation in multiple investor conferences to engage the market.

5. Nov 06

   Equity offering

   24h Move

   -7.9%

   Oversubscribed US$28.1M common share offering at US$5.20 per share.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

warrants, options, exercise price, early warning requirements, +1 more

5 terms

warrants financial

"exercised 1,420,000 warrants ("Warrants") to purchase common shares"

Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.

View in glossary

options financial

"605,000 options entitling the Acquirer to purchase an additional 605,000 Common Shares"

Options are contracts that give investors the right to buy or sell an asset at a specific price within a certain time frame. They function like a reservation or a ticket that allows for potential profit or protection against price changes, making them useful tools for managing investment risks or speculating on market movements.

View in glossary

exercise price financial

"to purchase common shares ... at an exercise price of $0.90 per Common Share"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

early warning requirements regulatory

"Item 5 of Form 62-103F1 - Required Disclosure under the Early Warning Requirements"

Early warning requirements are rules that force large shareholders or insiders to publicly disclose when their ownership crosses specified thresholds, like when someone buys or sells a big chunk of a company's stock. They matter to investors because these disclosures act like a public alert—similar to a neighborhood note when someone starts renovating a house—signaling potential changes in control, strategy, or market sentiment that can affect a stock’s price and risk.

form 62-103f1 regulatory

"Item 5 of Form 62-103F1 - Required Disclosure under the Early Warning Requirements"

Form 62-103F1 is a standardized Canadian securities filing that publicly discloses when an individual or group buys or sells a significant stake in a public company, typically when ownership crosses regulatory thresholds that require notice. It matters to investors because it reveals who is gaining or losing influence—like watching a large player move chess pieces—which can signal potential takeovers, voting-power shifts, board changes, or future pressure on the stock price.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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TORONTO, ONTARIO / ACCESS Newswire / January 20, 2026 / Electrovaya Inc. (Nasdaq:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, announces that Dr. Sankar Das Gupta (the "Acquirer"), a director and Chairman of the Board of Directors of Electrovaya Inc. ("Electrovaya") exercised 1,420,000 warrants ("Warrants") to purchase common shares (each, a "Common Share") at an exercise price of $0.90 per Common Share, acquiring an equivalent number of Common Shares on the exercise.

Immediately prior to the exercise, the Acquirer owned 10,270,751 Common Shares on a non-diluted basis, representing approximately 21.40% of the outstanding Common Shares, 605,000 options entitling the Acquirer to purchase an additional 605,000 Common Shares, and 1,420,000 Warrants entitling the Acquirer to purchase an additional 1,420,000 Common Shares. If the Acquirer were to have exercised all options and Warrants held, and assuming no other new issuances of Common Shares at or prior to such exercise, the Acquirer would have owned an aggregate of 12,295,751 Common Shares, representing approximately 24.58% of the then outstanding Common Shares.

Following the exercise, the Acquirer owns 11,690,751 Common Shares on a non-diluted basis, representing approximately 23.66% of the outstanding Common Shares, and 605,000 options to purchase Common Shares, entitling the Acquirer to purchase an additional 605,000 Common Shares. If the Acquirer were to exercise all his remaining options, and assuming no other new issuances of Common Shares at or prior to such exercise, the Acquirer would own an aggregate of 12,295,751 Common Shares, representing approximately 24.58% of the then outstanding Common Shares.

The Acquirer exercised the Warrants as an investment in the Company in consideration of the current market price of the Common Shares and the exercise price and expiry date of the Warrants. The Acquirer may, from time to time in the future, increase or decrease direct or indirect ownership, control or direction over the Common Shares, Warrants or other securities of Electrovaya through market transactions, private agreements, subscriptions from treasury or otherwise, subject to applicable securities laws. The Acquiror has no present plans or intentions which relate to or would result in any of the transactions or circumstances identified in Item 5 of Form 62-103F1 - Required Disclosure under the Early Warning Requirements.

Electrovaya's head office is located at 6688 Kitimat Road, Mississauga, Ontario, L5N 1P8.

For further information, including with respect to obtaining a copy of the corresponding report filed with Canadian securities regulators, contact:

Investor and Media Contact:     

Jason Roy
VP, Corporate Development and Investor Relations
Electrovaya Inc.
jroy@electrovaya.com / 905-855-4618

About Electrovaya Inc.

Electrovaya Inc. (NASDAQ:ELVA)(TSX:ELVA) is a technology-driven lithium-ion battery company commercializing its proprietary Infinity Battery Technology, designed for superior safety, longevity, and performance in mission-critical industrial, robotics, defense and energy-storage applications. The Company leverages a strong intellectual-property portfolio and advanced materials expertise to deliver durable, high-value battery solutions to global OEMs and end users. To support growing demand and advancing energy-security and national-security objectives, Electrovaya is expanding U.S. manufacturing through its 52-acre Jamestown, New York site, which includes a 137,000-square-foot facility planned as its first gigafactory. Electrovaya also operates two Canadian sites focused on research, engineering, and product commercialization. For more information, please visit www.electrovaya.com.

SOURCE: Electrovaya, Inc.

View the original press release on ACCESS Newswire

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many warrants did Sankar Das Gupta exercise in Electrovaya (ELVA) on January 20, 2026?

He exercised 1,420,000 warrants to purchase 1,420,000 common shares.

What was the exercise price paid by Sankar Das Gupta for Electrovaya (ELVA) warrants?

The exercise price was $0.90 per common share.

What percentage of Electrovaya (ELVA) does Sankar Das Gupta own after the January 20, 2026 exercise?

Following the exercise he owns approximately 23.66% of outstanding common shares.

How much cash did Electrovaya (ELVA) receive from the warrant exercise on January 20, 2026?

The exercise equates to approximately $1,278,000 in gross proceeds (1,420,000 × $0.90).

Could Sankar Das Gupta increase his stake in Electrovaya (ELVA) further after January 20, 2026?

Yes; he holds 605,000 options that, if exercised, would raise his ownership to about 24.58%, assuming no other issuances.