Aeva Technologies said it is launching a proposed follow-on public offering to raise $100 million from shares of common stock, with underwriters also expected to have a 30-day option to buy up to another $15 million. If fully exercised, the deal would bring total proceeds to as much as $115 million before underwriting discounts and commissions.
The company said it plans to use the net proceeds for general corporate purposes, including to support what it described as accelerating commercial interest in AI infrastructure and co-packaged optics, along with growing demand for existing applications.
Morgan Stanley, Goldman Sachs & Co. LLC and Oppenheimer & Co. are serving as book-running managers.
Aeva has been positioning itself around next-generation sensing and perception systems, and in the release it highlighted applications in automated driving, manufacturing automation, smart infrastructure, robotics and consumer devices. It also pointed to its 4D lidar sensors, which detect velocity and position simultaneously. Today the company's shares have moved -5.25% to a price of $23.1199. For more information, read the company's full 8-K submission here.
