Aptera Motors Raises $5.7M with 2.775M Warrant Exercise, Issues 4.16M New Warrants
SEV•Aptera Motors triggered immediate exercise of 2.775 million warrants at $2.07 each, raising approximately $5.7 million in gross proceeds. The company will issue new unregistered warrants for 4.1625 million shares at $2.25 per share, exercisable after six months and expiring in five and a half years.
1. Warrant Exercise and Gross Proceeds
Aptera Motors has agreed to an inducement transaction allowing immediate exercise of previously issued warrants to purchase up to 2,775,000 shares of Class B common stock at $2.07 per share, generating approximately $5.7 million in gross proceeds before fees and expenses.
2. New Warrants Issuance
In exchange for the cash exercise, the company will issue new unregistered warrants to purchase up to 4,162,500 shares at an exercise price of $2.25 per share, exercisable six months after issuance and expiring five and a half years from issuance.
3. Use of Proceeds and Closing Conditions
Net proceeds are earmarked for working capital, general corporate purposes, and advancement of validation vehicle manufacturing and testing phases. The transaction is expected to close on or about July 13, 2026, subject to customary closing conditions and final documentation, and the new warrants and underlying shares are being offered in a private placement with resale registration planned under the Securities Act.
