IPO - Aptera Motors Corp
Form Type: CORRESP
Filing Date: 2024-10-18
Corporate Action: Ipo
Type: Update
Accession Number: 000149315224041647
Filing Summary: Aptera Motors Corp has filed Amendment No. 1 to its Offering Statement on Form 1-A in response to comments from the SEC's Division of Corporate Finance. The filing addresses prior issues including production delays due to regulatory requirements needed for safety certifications. The company disclosed intentions to produce 100 to 200 launch edition vehicles in 2025, contingent upon raising at least $60 million in 2024. To reach a planned production capacity of 20,000 vehicles annually by 2026, approximately $200 million more needs to be raised. Discussions included the impacts of supply chain disruptions on business goals and liquidity. The statement also clarified that no directors or executive officers received equity compensation for the fiscal year ended December 31, 2023. Additionally, the revised offering statement encompasses reliance on Rule 12g-6.
Additional details:
Item Number: 1
Regulatory Environment Details: The Company has provided additional disclosure regarding the impact of governmental regulations on financial performance.
Launch Plan Details: Company plans to produce 100 to 200 vehicles in 2025 if $60 million is raised in 2024.
Capital Requirements: Approximately $200 million must be raised to reach full production capacity.
Supply Chain Discussion: The Company discussed impacts of supply chain disruptions on operations and liquidity.
Equity Compensation Clarification: No equity compensation was received by directors or executive officers for FY 2023.
Rule 12g 6 Reliance: The offering statement discusses reliance on Rule 12g-6.
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