Aptera Motors Announces a Warrant Inducement Transaction for $6.3 Million in Gross Proceeds
Aptera Motors Corp. - Class B (SEV)
US:NASDAQ Investor Relations:
ir.sevcon.com/investor-relations
Company Research
Source: GlobeNewswire
CARLSBAD, Calif., March 12, 2026 (GLOBE NEWSWIRE) -- Aptera Motors Corp. (NASDAQ: SEV) (the “Company” or “Aptera”), a solar mobility company advancing ultra-efficient transportation, today announced the immediate exercise of warrants, previously issued in January 2026, to purchase up to 3,167,500 shares of its Class B Common Stock pursuant to their existing terms for gross cash proceeds of approximately $6.3 million before deducting financial advisor fees and other transaction expenses. In consideration for the immediate cash exercise of the existing warrants, the Company has agreed to issue new, unregistered warrants to purchase up to 4,751,250 shares of Class B Common Stock (the “New Warrants”). The New Warrants will have an exercise price of $3.50 per share, are immediately exercisable and will expire five years from the date of issuance. The closing of this transaction is expected to occur on or about March 13, 2026, subject to the satisfaction of customary closing conditions.
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