---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-273483"
form_type: "8-K"
ticker: "AEVA"
cik: "0001789029"
company_name: "Aeva Technologies, Inc."
filed_at: "2023-11-08T23:59:59+00:00"
generated_at: "2026-06-08T09:59:59.713582+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Aeva raises $21.4M via PIPE at $0.58/share; secures up to $125M standby equity facility; appoints Stefan Sommer to board

## Summary
- PIPE of 36.8M shares at $0.58/share grossing ~$21.4M from Sylebra ($14.4M) and Adage Capital ($7M).
- Standby equity facility: up to $125M of preferred stock (7% dividend, convertible to common) available through Nov 2026.
- Advances under facility require at least one new OEM program award with ≥50,000 unit volume and stock price <$3.00.
- Stefan Sommer, former ZF Group CEO and Volkswagen board member, appointed as Class I director effective Nov 15.
- Sylebra gets board nomination rights: one director at 9% ownership, a second at 14% (waived until 2025 election).

## SEC filing metadata
- accession: 0001193125-23-273483
- form_type: 8-K
- ticker: AEVA
- cik: 0001789029
- company_name: Aeva Technologies, Inc.
- filed_at: 2023-11-08T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 3.02, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1789029/000119312523273483/0001193125-23-273483-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1789029/000119312523273483/d589637d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-273483
- JSON: https://secwatch.observer/filing/0001193125-23-273483.json
- Plain text: https://secwatch.observer/filing/0001193125-23-273483.txt

## Key facts
- Executive change
  Stefan Sommer was appointed as Class I Director at Aeva Technologies, Inc..
  - Action: appointed
  - Role: Class I Director
  source text: On November 6, 2023, the Board of Directors of the Company (the “ Board ”) appointed Stefan Sommer to serve as a Class I director effective November 15, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1789029/000119312523273483/0001193125-23-273483-index.htm
- Material Agreements
  Aeva Technologies, Inc. entered into Subscription Agreements with entities affiliated with Sylebra Capital Limited and Adage Capital Management valued at approximately $21.4 million (effective 2023-11-08).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: entities affiliated with Sylebra Capital Limited and Adage Capital Management
  - Value: approximately $21.4 million
  - Effective: 2023-11-08
  source text: On November 8, 2023, Aeva Technologies, Inc. (the “ Company ”) entered into Subscription Agreements (the “ Subscription Agreements ”) providing for the purchase of an aggregate of 36,802,299 shares (the “ PIPE Shares ”) of the Company’s common stock, $0.0001 par value per share (the “ Common Stock ”), at a price of $0.58 per PIPE Share (the “ Purchase Price ”) for an aggregate Purchase Price of approximately $21.4 million (the “ Private Placement ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1789029/000119312523273483/0001193125-23-273483-index.htm
- Material Agreements
  Aeva Technologies, Inc. entered into Standby Equity Purchase Agreement with entities affiliated with Sylebra Capital Limited valued at up to $125,000,000 (effective 2023-11-08).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: entities affiliated with Sylebra Capital Limited
  - Value: up to $125,000,000
  - Effective: 2023-11-08
  source text: On November 8, 2023, the Company entered into a Standby Equity Purchase Agreement (the “ Facility Agreement ”) with entities affiliated with Sylebra.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1789029/000119312523273483/0001193125-23-273483-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.