Aeva Technologies Inc. (NASDAQ: AEVA) completed a follow-on public offering that raised $115 million in gross proceeds before underwriting discounts and commissions, according to a company statement.

The sensing and perception systems company sold 5,168,539 shares of common stock at $22.25 per share. The total includes 674,157 shares issued after underwriters exercised their option to purchase additional shares at the public offering price.

Aeva plans to use the net proceeds for general corporate purposes, including meeting demand for AI infrastructure and Co-Packaged Optics applications, as well as existing product applications.

Morgan Stanley, Goldman Sachs & Co. LLC and Oppenheimer & Co. served as book-running managers for the offering.

The securities were offered through an automatically effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on June 3, 2026.

Aeva develops perception platforms that integrate lidar-on-chip technology with system-on-chip processing and perception algorithms for applications including automated driving, manufacturing automation, smart infrastructure, robotics and consumer devices.