[6-K] Electrovaya Inc. Current Report (Foreign Issuer)

Rhea-AI Filing Summary

Tevogen Bio Holdings Inc. (Nasdaq: TVGN, TVGNW) has updated its May 7, 2025 prospectus to incorporate three recently filed Form 8-Ks. The supplement highlights two liquidity-related developments.

1) CEO cash infusion (June 30 2025): Founder & Chief Executive Officer Ryan Saadi provided a $500,000 personal cash contribution. Management expects to deploy these funds toward the build-out and first-year operating costs of the company’s new Warren, New Jersey headquarters.

2) $50 million at-the-market (ATM) facility (July 3 2025): The company entered a Sales Agreement with A.G.P./Alliance Global Partners allowing the issuance and sale, from time to time, of up to $50 million in common stock through an “at-the-market” offering under the recently effective shelf registration statement (File No. 333-288218). Tevogen retains full discretion over timing, size, price parameters and may terminate the agreement at will. A standard commission will be paid to the agent and customary indemnification applies.

The supplement reiterates that Tevogen is both an “emerging growth company” and a “smaller reporting company,” subject to reduced disclosure requirements. On July 9 2025, the common stock closed at $1.24 and the publicly traded warrants at $0.0739.

Investors are reminded to review the Prospectus risk factors (page 8) and the extensive forward-looking statement disclaimers outlining capital needs, regulatory hurdles, technology evolution and other uncertainties.

Positive

• $50 million ATM facility provides flexible, non-debt access to capital under an effective shelf registration.
• CEO’s $500,000 personal cash contribution demonstrates insider confidence and funds new headquarters build-out.

Negative

• Potential share dilution if the full $50 million ATM capacity is utilized at current price levels.
• Forward-looking statements emphasize the need for additional capital and multiple operational risks, underscoring ongoing funding uncertainty.

Insights

Equity Research Analyst

TL;DR – New $50 M ATM strengthens liquidity; modest CEO cash boost signals insider support.

The $50 million ATM program materially expands Tevogen’s funding flexibility without an immediate debt burden, a positive for near-term liquidity in a capital-intensive biotech environment. While drawdowns are discretionary, equity raises at the recent $1.24 share price would be dilutive, so execution pace and market conditions matter. The CEO’s $0.5 million personal contribution is small relative to burn but underscores management commitment and earmarks the headquarters build-out, reducing reliance on external cash for that project. Overall impact is neutral-to-slightly positive: liquidity improves, but dilution risk remains and no clinical or revenue milestones were disclosed.

Securities Attorney

TL;DR – Properly structured ATM; disclosures comply with SEC rules, mitigating legal risk.

The supplement appropriately incorporates the Form 8-Ks into the S-1 and names A.G.P. as agent, satisfying Rule 424(b)(3) requirements. The ATM relies on an effective Form S-3 and Rule 415, giving the issuer shelf flexibility while maintaining compliance with Regulation M through customary suspension mechanisms. The forward-looking statement section aligns with PSLRA guidelines, and risk factor cross-references are preserved. No apparent deficiencies that would jeopardize effectiveness or Nasdaq listing were noted.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_______________________

FORM 6-K

_______________________

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of July 2025

Commission File Number: 001-41726

_______________________

ELECTROVAYA INC.

(Registrant)

_______________________

6688 Kitimat Road

Mississauga, Ontario, Canada L5N 1P8

(Address of Principal Executive Offices)

_______________________

Indicate by check mark whether the Registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☐     Form 40-F ☒

Indicate by check mark if the Registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the Registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	ELECTROVAYA INC.
	(Registrant)
Date: July 10, 2025	By	/s/ Raj Das Gupta
		Raj Das Gupta
		Chief Executive Officer

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EXHIBIT INDEX

Exhibit		Description of Exhibit
99.1		Press Release

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FAQ

What did Tevogen Bio (TVGN) announce on July 3 2025?

The company signed a $50 million at-the-market Sales Agreement with A.G.P./Alliance Global Partners to sell common stock from time to time.

How much capital can Tevogen Bio raise under the new ATM facility?

Up to $50,000,000 of common stock may be issued through the at-the-market offering.

What cash contribution did CEO Ryan Saadi make?

On June 30 2025, the CEO contributed $500,000 in cash, earmarked for building and operating the new Warren, NJ headquarters.

Where are Tevogen Bio’s securities listed and what were their prices on July 9 2025?

Common stock (TVGN) and warrants (TVGNW) trade on Nasdaq; they closed at $1.24 and $0.0739, respectively.

What risk factors are highlighted in the prospectus supplement?

The supplement refers investors to the Prospectus page 8, citing capital needs, regulatory challenges, technology evolution and other uncertainties.

What regulatory status does Tevogen Bio hold under SEC rules?

The company is both an “emerging growth company” and a “smaller reporting company,” allowing reduced reporting obligations.