secwatch.observer — SEC 8-K summary
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Issuer:     Aeva Technologies, Inc. (AEVA)
CIK:        0001789029
Form:       8-K
Filed at:   2023-11-08T23:59:59+00:00
Accession:  0001193125-23-273483
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.02, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1789029/000119312523273483/0001193125-23-273483-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1789029/000119312523273483/d589637d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-273483

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer