Aeva Secures $100 Million Investment from Apollo Funds

Aeva Technologies, Inc. has announced a $100 million investment from funds managed by Apollo through the purchase of 4.375% Convertible Senior Notes, reinforcing confidence in Aeva’s leadership in frequency-modulated continuous wave (FMCW) 4D LiDAR technology. The capital will help accelerate commercial scaling across automotive, industrial, robotics, and other advanced sensing markets.

Highlights

$100M investment in 4.375% Convertible Senior Notes due 2032 from Apollo-managed funds.
15% conversion premium set at an initial price of $15.8643 per share.
Funds to accelerate adoption of FMCW 4D LiDAR across multiple sectors.
Aeva continues to expand its commercial programs in automotive, robotics, and industrial automation.

Investment Terms and Strategic Impact

Under the agreement, the Apollo Funds will purchase $100 million in aggregate principal amount of Convertible Senior Notes maturing on November 15, 2032, with an annual interest rate of 4.375%, payable in cash or Aeva common stock. Aeva retains the option to settle conversions in cash, shares, or a combination of both.

CEO Soroush Salehian emphasized that the funding “comes at a defining time in the industry,” underscoring Aeva’s momentum in delivering next-generation sensing technologies. The investment is expected to strengthen Aeva’s execution capabilities and support scaling of its lidar-on-chip perception platform, which integrates sensing, signal processing, and perception algorithms on silicon.

Advisory and Legal Support

Morgan Stanley served as financial advisor to Aeva. Legal counsel was provided by Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP, and Fenwick & West, LLP for Aeva, with White & Case LLP advising the Apollo Funds.

Further details can be found in Aeva’s Form 8-K filing with the U.S. Securities and Exchange Commission.

About Aeva Technologies, Inc.
Aeva develops next-generation perception systems using silicon photonics–based 4D LiDAR, capable of measuring both velocity and position simultaneously. Its technology supports applications in automated driving, industrial automation, smart infrastructure, and consumer robotics.

Learn more at www.aeva.com.