Evolution Metals & Technologies Corp. Defaults on $34.7 Million Debt Redemption

Evolution Metals & Technologies Corp. (EMAT) failed to pay $34,672,219.18 due October 29, 2026, covering principal, premiums and accrued interest on two convertible debentures issued in May and September 2026. Its five-trading-day cure period expired November 5 without payment; Yorkville said the company instead emailed it a draft registration statement for an unannounced public offering that day. The article reports no stock-price impact.