Aptera Motors Corp (SEV) SEC Filings

Aptera Motors Corp. (SEV) entered into a Strategic Partnership Agreement with Shanghai Launch Automotive Technology Co., Ltd., under which Launch will act as manufacturing and contract-engineering partner, providing manufacturing, engineering, tooling and testing services under future work orders. As consideration, Aptera agreed to pay Launch up to RMB 300,000,000, consisting of two-thirds of each approved work-order invoice in cash up to RMB 200,000,000 and one-third through warrants up to RMB 100,000,000 in total. On the effective date, Aptera issued 3,369,629 five-year warrants valued at RMB 50,000,000 with a $2.20 exercise price, which become exercisable only as they are credited against approved invoices. Later warrants will have an exercise price at least equal to the Nasdaq Minimum Price on signing and not less than $2.25, and exercises are limited by a 4.99% beneficial ownership cap and a 19.99% exchange cap unless required stockholder approval is obtained. The warrants and underlying shares were issued in an unregistered offshore offering under Regulation S.

Aptera Motors Corp. (symbol SEV) has filed a prospectus for the resale of up to 4,320,000 shares of Class B common stock, all issuable upon exercise of outstanding warrants held by selling stockholders. This is a resale registration; Aptera is not selling any shares itself under this prospectus.

The warrants were issued in a July 2026 private placement, have an exercise price of $2.25 per share, become exercisable on January 13, 2027, and expire five years after that date. Aptera will receive cash only if holders exercise the warrants and intends to use any such proceeds for working capital and general corporate purposes. Class B common stock is non-voting (except in limited Delaware-law situations), while Class A common stock carries one vote per share and is convertible into Class B.

As of August 6, 2026 Aptera had 28,560,115 Class B shares and 11,983,010 Class A shares outstanding. The company is an emerging growth company and a Delaware public benefit corporation focused on highly efficient solar electric vehicles. SEV is listed on Nasdaq, where the last reported Class B share price on August 6, 2026 was $2.12.

Aptera Motors Corp (SEV) reported that Interim CFO Thomas James DaPolito received an employee stock option grant. On August 18, 2026, he was granted options to purchase 50,032 shares of Class B Common Stock at an exercise price of $2.17 per share under the 2025 Omnibus Equity Incentive Plan, vesting immediately and expiring on August 18, 2036. Following this grant, he holds 50,032 derivative securities directly.

Aptera Motors Corp (SEV) announced a strategic partnership and investment agreement with Shanghai Launch Automotive Technology (Launch Design) to support the move from prototype to high-volume production of its solar EV. Launch is a design-for-manufacturing company with more than 3,000 employees and a track record of over 400 vehicle models.

The production program is valued at up to $44 million (RMB 300 million), covering assembly fixtures and tooling, vehicle testing, pilot builds, and high-volume production. Initial fixtures and parts target the first 40 production vehicles, which the parties aim to begin building in the fourth quarter of 2026. Aptera will pay two-thirds of approved program costs in cash and the remaining one-third (up to about $15 million) in stock warrants, conserving cash and aligning Launch’s incentives with Aptera’s equity value. Aptera expects to fund its share through existing resources, previously announced financings, and additional debt or equity, and notes that its ability to continue as a going concern depends on successfully raising more capital.

Aptera Motors Corp. filed Amendment No. 1 to a Form S-1 registering the resale of up to 4,320,000 shares of Class B common stock issuable upon exercise of outstanding warrants held by selling stockholders. These Warrants have a $2.25 per share exercise price, become exercisable on January 13, 2027, and expire five years after that date.

The company will not receive proceeds from share resales, but will receive any cash proceeds from Warrant exercises, to be used for working capital and general corporate purposes. Aptera is an automotive technology company developing highly efficient solar electric vehicles and has not yet commenced production. Class A common stock is voting; Class B is generally non-voting, with 28,560,115 Class B and 11,983,010 Class A shares outstanding as of August 6, 2026. The Class B common stock trades on Nasdaq under the symbol SEV, last reported at $2.12 on August 6, 2026.

Aptera Motors Corp. expanded its board of directors from four to five members and appointed Wellington J. Reiter as an independent director effective August 11, 2026. He also joined the Board’s Audit Committee on the same date.

In connection with his appointment, Reiter received an aggregate of 210,045 restricted stock units (RSUs) under the 2025 Omnibus Equity Incentive Plan. This includes 22,831 RSUs as a fully vested annual board retainer valued at $50,000, 4,566 RSUs as a fully vested Audit Committee retainer valued at $10,000, and a long-term incentive grant of 182,648 RSUs valued at $400,000, vesting over four years at 25% per full year of board service. The company states there are no related-party arrangements or transactions requiring additional disclosure.

Reiter Wellington Jay reported acquisition or exercise transactions in this Form 4 filing.

Aptera Motors Corp director Wellington Jay Reiter reported an equity compensation award. On August 11, 2026, he was granted 210,045 restricted stock units (RSUs) under the 2025 Omnibus Equity Incentive Plan at a stated price of $0.0000 per share. 27,397 RSUs vested immediately on August 11, 2026, with four additional tranches of 45,662 RSUs each scheduled to vest on August 11 of 2027, 2028, 2029, and 2030. Each RSU represents the right to receive one share of Class B common stock, contingent on his continuous service through each vesting date, resulting in 210,045 Class B shares reported as directly owned after the grant.

Aptera Motors Corp director Reiter Wellington Jay submitted an initial Form 3 reporting beneficial ownership in the company’s securities. The filing reports no transactions or derivative positions and shows no holdings currently reported. It also includes an exhibit for a Power of Attorney.

Aptera Motors Corp. reported second quarter and first half 2026 results, highlighting continued losses alongside progress toward initial production. For the quarter ended June 30, 2026, GAAP net loss was $10.9 million and first half GAAP net loss was $21.1 million. Non-GAAP adjusted net loss was $7.2 million for Q2 and $13.4 million for the first half, primarily excluding stock-based compensation and a prior litigation settlement charge.

Aptera ended Q2 2026 with $10.1 million in cash and cash equivalents and had raised approximately $24.6 million in gross capital year-to-date through a follow-on public offering, warrant inducements and exercises, and sales under an equity line of credit. Subsequent to quarter-end, it raised an additional $6.0 million in gross proceeds in a warrant inducement transaction but estimates it needs a further $40–$45 million to fund initial low-volume production.

Operationally, Aptera received a U.S. EPA Certificate of Conformity for its 2026 Launch Edition, ordered bodies and chassis for the first 40 production vehicles, and announced a service partnership with RepairPal. The company reported approximately 50,000 reservation holders and noted previously disclosed material weaknesses in internal control, going concern risks absent additional financing, and an ongoing SEC investigation in its risk disclosures.