Aptera Motors settled litigation with Zaptera USA, resulting in the dismissal of all claims with prejudice and the issuance of 105,000 shares of Class B common stock and warrants to purchase 210,000 shares.
Key takeaways
All claims in the lawsuit filed by Zaptera USA were dismissed with prejudice, concluding the litigation without right of appeal.
The Company issued 105,000 shares of Class B common stock to Zaptera USA as part of the settlement consideration.
The Company issued warrants to purchase up to 210,000 shares of Class B common stock with an exercise price of $2.78.
The securities issuance was exempt from registration under Section 4(a)(2) of the Securities Act of 1933.
Each party agreed to bear its own costs and attorney fees in connection with the resolution.