Aptera Motors, which is developing a three-wheeled solar electric vehicle, announced last week that it had received approval to list its shares on the Nasdaq and expects trading to commence today, 10/16.
The company registered about 32 million shares for sale by existing stockholders. Aptera Motors will not raise new capital in the listing.
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 served as a financial advisor.
