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Aeva Technologies, Inc. Announces Effective Date of Reverse Stock Split
Aeva Common Stock Expected to Begin Trading on a Split-adjusted Basis on March 19, 2024 MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Aeva® (NYSE: AEVA), a leader
About this update from Aeva Technologies, Inc.
[{"type":"text","content":"\nAeva Common Stock Expected to Begin Trading on a Split-adjusted Basis on March 19, 2024\n\n\n MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--\nAeva® (NYSE: AEVA), a leader in next-generation sensing and perception systems, today announced that it expects a 1-for-5 reverse stock split of its outstanding shares of common stock will be effective as of March 18, 2024 at approximately 4:01 p.m. Eastern Time. Aeva’s common stock will continue trading on the New York Stock Exchange (“NYSE”) under the existing symbol (AEVA) and will begin trading on a split-adjusted basis when the market opens on March 19, 2024, with the new CUSIP number 00835Q202.\n\n\nAs of the effective time of the reverse stock split, every five issued and outstanding shares of Aeva’s common stock will be automatically reclassified into one issued and outstanding share of Aeva’s common stock. This will reduce the number of shares outstanding from approximately 263.8 million shares to approximately 52.8 million, subject to adjustment for fractional shares. Proportionate adjustments will be made to the number of shares of common stock underlying the company’s outstanding equity awards, warrants, the number of shares issuable under its equity incentive plans and other existing agreements, as well as the exercise or conversion price, as applicable. The reverse stock split will not affect the number of authorized shares of common stock or the par value of the common stock.\n\n\nContinental Stock Transfer & Trust Company is acting as the exchange agent for the reverse stock split. Registered stockholders holding pre-split shares of Aeva’s common stock are not required to take any action to receive post-split shares. Stockholders owning shares via a broker, bank, trust or other nominee will have their positions automatically adjusted to reflect the reverse stock split, subject to such broker’s particular processes, and will not be required to take any action in connection with the reverse stock split. Stockholders holding shares of Aeva’s common stock in certificate form will receive a transmittal letter from Continental Stock Transfer & Trust Company with instructions as soon as practicable after the effective date.\n\n\nThe reverse stock split is primarily intended to increase the per share trading price of Aeva’s common stock in order to meet the NYSE’s price criteria for co...