ELVA 6-K

UNITEDSTATES

SECURITIESAND EXCHANGE COMMISSION

Washington,D.C. 20549

FORM6-K

REPORTOF FOREIGN PRIVATE ISSUER

PURSUANTTO RULE 13a-16 OR 15d-16 UNDER THE

SECURITIESEXCHANGE ACT OF 1934

Forthe month of December 2024

CommissionFile Number 001-41726

ELECTROVAYAINC.

(Translation of registrant’s name into English)

6688Kitimat Road

Mississauga, Ontario, Canada L5N 1P8

(Address of principal executive office)

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

INDEXTO EXHIBITS

SIGNATURE

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.

Exhibit 99.1

News for ImmediateRelease

Electrovaya Inc. Closes US$11.1 million Public Offering of Common Shares

Toronto, Ontario – December 18, 2024 – Electrovaya Inc. (“Electrovaya” or the “Company”) (NASDAQ: ELVA; TSX: ELVA), a leading lithium-ion battery technology and manufacturing company, has successfully closed its previously announced public offering (the “Offering”) of 5,175,000 common shares in the capital of the Company (the “CommonShares”) at a price to the public of US$2.15 per Common Share (the “Offering Price”) for gross proceeds of approximately US$11.1 million, before deducting the underwriting discounts and commissions and estimated expenses incurred in connection with the Offering.

Roth Capital Partners (“Roth”) acted as sole book-running manager, and Raymond James Ltd. and Craig-Hallum Capital Group LLC acted as the co-lead book-running managers in the Offering.

The Company has granted Roth a 45-day over-allotment option to purchase up to an additional 776,250 Common Shares at the Offering Price, less underwriting discounts and commissions.

The Company intends to use the net proceeds from the Offering to satisfy conditions associated with the loan approved by the Export-Import Bank of the United States announced by the Company on November 14, 2024, repayment of amounts under the Company’s existing working capital facility in advance of proposed bank refinancing and for the costs of such financing, and satisfaction of certain outstanding amounts in connection with the purchase of the Company’s Jamestown, New York manufacturing facility.

The Common Shares were offered in the United States pursuant to a shelf registration statement (including a prospectus supplement thereto) previously filed with and declared effective by the Securities and Exchange Commission (the “SEC”) on September 25, 2024 in accordance with the Multijurisdictional Disclosure System established between Canada and the United States, and were qualified for distribution in the provinces and territories of Canada by way of a prospectus supplement to the Company’s base shelf prospectus dated September 17, 2024. No securities were sold in the Province of Québec.

The prospectus supplement and accompanying shelf registration are available for free on the SEC’s website at www.sec.gov and the prospectus supplement and accompanying base shelf prospectus filed in Canada are available on the Company’s profile on the SEDAR+ website at www.sedarplus.ca. Copies of the prospectus supplement and accompanying prospectus relating to the Offering may also be obtained by contacting Roth Capital Partners, LLC at 888 San Clemente Drive, Newport Beach CA 92660 by phone at (800)-678-9147 or e-mail at [email protected].

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, state or jurisdiction.

Investor and Media Contact:

Jason Roy

VP, Corporate Development and Investor Relations

Electrovaya Inc.

905-855-4618 / [email protected]

About Electrovaya Inc.

Electrovaya Inc. (NASDAQ:ELVA) (TSX:ELVA) is a pioneering leader in the global energy transformation, focused on contributing to the prevention of climate change by supplying safe and long-lasting lithium-ion batteries without compromising energy and power. The Company has extensive IP and designs, develops and manufactures proprietary lithium-ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications. Electrovaya has two operating sites in Canada and a 52-acre site with a 135,000 square foot manufacturing facility in Jamestown New York state for its planned gigafactory. To learn more about how Electrovaya is powering mobility and energy storage, please explore www.electrovaya.com.

Forward-Looking Statements

This press release contains forward-lookingstatements, including statements regarding the anticipated use of proceeds from the Offering and the over-allotment option grantedin connection with the Offering. Forward-looking statements can generally, but not always, be identified by the use of words suchas “may”, “will”, “could”, “should”, “would”, “likely”,"possible", “expect”, “intend”, “estimate”, “anticipate”, “believe”,“plan”, “objective” and “continue” (or the negative thereof) and words and expressions of similarimport. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statementsare necessarily based on assumptions, and involve risks and uncertainties, therefore undue reliance should not be placed on suchstatements. Material assumptions on which forward-looking statements in this news release include assumptions about the abilityto complete a loan financing with EXIM and the market price of the Common Shares. Material risks and other factors that could causeactual results to differ from any forward-looking statement include market conditions and other risks that may be found in theprospectus supplement and base shelf prospectus filed in connection with the Offering, including those risks described under theheading “Risk Factors”, and the documents incorporated by referenced therein. The Company does not undertake any obligationto update publicly or to revise any of the forward looking statements contained in this document, whether as a result of new information,future events or otherwise, except as required by law.