AEVA · Aeva Technologies, Inc.

Aeva Technologies, Inc. (Nasdaq: AEVA) announced a follow-on public offering of 4,494,382 shares of common stock at $22.25 per share, with an underwriter option to purchase up to an additional 674,157 shares. The offering was made pursuant to an automatically effective shelf registration statement on Form S-3. Morgan Stanley, Goldman Sachs, and Oppenheimer & Co. are acting as book-running managers. The company expects net proceeds of approximately $94.4 million ($108.7 million if the option is fully exercised) after deducting underwriting discounts and commissions and estimated expenses. Proceeds will be used for general corporate purposes, with particular emphasis on accelerating commercial interest in AI infrastructure and Co-Packaged Optics (CPO) in addition to growing demand for existing applications. The offering is scheduled to close on June 5, 2026, subject to customary conditions. This capital raise strengthens Aeva's balance sheet to support its next-generation sensing and perception systems, addressing both automotive and non-automotive markets.