Aptera Motors enters $75M equity line of credit with New Circle Capital for production readiness

Aptera Motors Corp

Up to $75M of Class B common stock can be sold to New Circle at 96-97% of VWAP over 36-month term.
Commitment fee of $375,000 payable in stock or cash; structuring and legal fees total $50,000.
Proceeds intended to support production readiness for Launch Edition vehicles.
Aptera has discretion to draw down; New Circle cannot require sales.
Registration statement on Form S-1 to be filed within 30 days for resale of shares.

Key facts

Extracted from this filing and checked against the source text.

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

Aptera Motors Corp issued up to $75,000,000 of Common Stock, plus Commitment Shares of common stock to New Circle Principal Investments LLC for Structuring fee of $25,000, legal fee of $25,000, commitment fee of $375,000; purchase price at 96% or 97% of VWAP.

Security: common stock
Shares: up to $75,000,000 of Common Stock, plus Commitment Shares
Purchaser: New Circle Principal Investments LLC
Consideration: Structuring fee of $25,000, legal fee of $25,000, commitment fee of $375,000; purchase price at 96% or 97% of VWAP

Exact text from the filing

Circle has no right to require the Company to sell any Common Stock to New Circle. The per share purchase price will be calculated at the Company’s election based on either (i) 97% of the lowest daily volume weighted average price (“VWAP”) of the Company’s common stock during a three consecutive trading day period (the “Option 1 Pricing Period”), or (ii)

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Aptera Motors Corp filing history →

Source: SEC EDGAR

accession 0001493152-25-017950

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