08:55 AM EDT, 07/10/2026 (MT Newswires) -- Aptera Motors ( SEV ) said Friday that it will sell up to 2.8 million Class B common shares at a reduced price of $2.07 apiece for gross proceeds of $5.7 million through a warrant inducement transaction.

In exchange for the immediate exercise of warrants, the company said it will issue new warrants to purchase up to 4.2 million Class B common shares, exercisable at $2.25 apiece six months after issuance.

The deal is expected to close on Monday, Aptera said.

The company said the net proceeds will be used for working capital and general corporate purposes.

Shares of the company were down more than 3% in recent Friday premarket activity.