Aptera Motors Announces a Warrant Inducement Transaction for $5.7 Million in Gross Proceeds

About this update from Aptera Motors Corp.

CARLSBAD, Calif., July 10, 2026 (GLOBE NEWSWIRE) -- Aptera Motors Corp. (NASDAQ: SEV) (the "Company" or "Aptera"), a solar mobility company advancing ultra-efficient transportation, today announced the immediate exercise of warrants, previously issued in March 2026, to purchase up to 2,775,000 shares of its Class B Common Stock at a reduced price of $2.07 per share for gross cash proceeds of approximately $5.7 million before deducting financial advisor fees and other transaction expenses. In consideration for the immediate cash exercise of the existing warrants, the Company has agreed to issue new, unregistered warrants to purchase up to 4,162,500 shares of Class B Common Stock (the "New Warrants"). The New Warrants will have an exercise price of $2.25 per share, are exercisable beginning six months following their issuance, and will expire five and a half years from the date of issuance. The closing of this transaction is expected to occur on or about July 13, 2026, subject to the satisfaction of customary closing conditions. A.G.P./Alliance Global Partners is acting as the exclusive financial advisor to the Company in connection with the transaction. The Company intends to use the net proceeds from the transaction for working capital, general corporate purposes, and the continued advancement of its validation vehicle manufacturing and testing phases. The New Warrants and the shares of Class B Common Stock issuable upon exercise of the New Warrants described above are being offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act"), and/or Regulation D promulgated thereunder, and have not been registered under the Securities Act or applicable state securities laws. Accordingly, the New Warrants and the underlying shares of Class B Common Stock may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (the "SEC") or an applicable exemption from such registration requirements. The Company has agreed to file a registration statement with the SEC covering the resale of the shares of Class B Common Stock issuable upon exercise of the New Warrants. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

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