Aptera Motors, which is developing a three-wheeled solar electric vehicle, announced the timing of its planned Nasdaq direct listing on Friday. According to a press release, Aptera plans to list on Thursday, October 16.
The shares of common stock listed will be sold by existing shareholders; Aptera Motors will not raise new capital in its listing. The company did not disclose a reference price, which will be determined on the day the stock begins trading.
The Registered Stockholders plan to sell up to 31.7 million shares. Aptera notes that in the second quarter of 2025, roughly 155,000 shares were sold privately at a volume weighted-average price of $40.85 per share. While the company cautions against putting undue reliance on historical private sales, if the company listed its shares at that price, it would command a market value of $1.3 billion.
Aptera Motors is focused on developing and manufacturing highly efficient solar electric vehicles (SEVs). Its current focus is on completing the development and commencing production of its flagship vehicle, a three-wheeled, two-passenger vehicle called the Aptera. To date, the company has not commenced production of its SEVs or generated any revenues.
The Carlsbad, CA-based company was founded in 2019 and plans to list on the Nasdaq under the symbol SEV. As a direct listing without a firm commitment offering, there are no underwriters on the deal; instead, Northland Securities will serve as a financial advisor.
