Aptera Motors raises $5.7M through warrant exercise transaction

Aptera Motors Corp. (NASDAQ: SEV) announced the immediate exercise of warrants, previously issued in March 2026, to purchase up to 2,775,000 shares of its Class B Common Stock at a reduced price of $2.07 per share, generating approximately $5.7 million in gross cash proceeds before financial advisor fees and other transaction expenses.

In exchange for the immediate cash exercise, the Carlsbad, California-based company agreed to issue new, unregistered warrants to purchase up to 4,162,500 shares of Class B Common Stock. The new warrants carry an exercise price of $2.25 per share, become exercisable six months after issuance, and expire five and a half years from their issuance date.

The transaction is expected to close on or about July 13, 2026, subject to customary closing conditions. A.G.P./Alliance Global Partners is acting as the exclusive financial advisor to the company.

Aptera said it intends to use net proceeds for working capital, general corporate purposes, and continued advancement of its validation vehicle manufacturing and testing phases.

The new warrants and the underlying shares are being offered in a private placement under Section 4(a)(2) of the Securities Act of 1933 and have not been registered under the Securities Act or applicable state securities laws. Aptera said it has agreed to file a registration statement with the Securities and Exchange Commission covering the resale of shares issuable upon exercise of the new warrants.

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