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Aptera opens investment round to start production of solar-powered car

Credit: Aptera

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Aptera has opened another round of investment into the company via its website.

According to Aptera’s recent SEC filing, the company has opened a “Class B Common Stock” investment opportunity via its website. This investment and a current grant opportunity will allow the brand to begin production and hopefully ship its first vehicles as soon as possible. Still, investors should be aware of the benefits and limitations of this investment opportunity.

Looking at Aptera’s investment page, they list a couple of crucial details and benefits to investors. The investment round has a minimum investment requirement of $1,000, or roughly 95 shares, that the company has priced at $10.50. Furthermore, investors who spend more than $1,000 will be given a $100 coupon that can be applied to any Aptera reservation. Investors who invest more than $10,000 will receive the same $100 discount and an additional 5% discount on any Aptera order.

However, some significant limitations come with this investment when looking at the corresponding SEC filing. First, Aptera is not a publicly traded company, so the legal requirements for that type of investment are not available in this case. This investment will also not allow owners of “Class B” stock to vote on company matters; that opportunity is available only to “class A” stock owners. Finally, it is unclear if these stocks are transferable in any way. The company does not allow for a refund of the investment, but the filing does not address the process of selling/transfers.

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The funds accumulated from this investment round will hopefully allow the brand to begin producing and delivering its vehicle. According to their filing, the vast majority of the money will be spent either on development or production. For a company with 30,000 orders to fulfill, a queue Aptera says is worth over $1 billion, this funding could define the brand.

Those who are deeply in love with the idea of hyper-efficient transport, and would like to make that dream a reality, should consider supporting the company that is looking to do just that. However, through the limitations of the stock and the SEC filing’s long list of potential risks, investors should always be wary of how they spend such a significant amount of money. All the information cited in this article is available on Aptera’s investment site.

Disclosure: William is not an Aptera investor, nor has he purchased securities addressed in this article. William is not associated with Aptera’s ambassador program.

What do you think of the article? Do you have any comments, questions, or concerns? Shoot me an email at william@teslarati.com. You can also reach me on Twitter @WilliamWritin. If you have news tips, email us at tips@teslarati.com!

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Will is an auto enthusiast, a gear head, and an EV enthusiast above all. From racing, to industry data, to the most advanced EV tech on earth, he now covers it at Teslarati.

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Elon Musk

SpaceX Starship Flight 13 aborted at Zero and Musk just told us what broke

Four Raptor engines failed to ignite at T-zero, forcing SpaceX to scrub Starship Flight 13 Thursday.

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SpaceX scrubbed the Starship Flight 13 launch attempt Thursday evening at the last possible moment, after four of the Super Heavy booster’s 33 Raptor 3 engines failed to ignite during the startup sequence. The 90-minute window had opened at 6:45 p.m. EDT from Starbase in Boca Chica, Texas, and the countdown had proceeded without issue all day, with more than 11.5 million pounds of liquid methane and liquid oxygen being fully loaded into the rocket before the automated abort triggered. SpaceX’s launch directors posted on X, “Standing down from today’s flight test attempt,” and shut down the livestream shortly after.

Musk confirmed the root cause within hours. “Some of the engines didn’t start, triggering an automatic launch abort,” he wrote on X. “To be confident of a good flight, 2 Raptors will be removed and replaced. Most probable launch timing is early next week.” SpaceX engineers began draining propellant tanks immediately and Booster 20 was rolled back to its hangar for inspection.

SpaceX comes with a slew of changes for Starship Flight 13

 

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The timing adds a layer of significance that did not exist during any of the previous 12 Starship flights. This is the first time SpaceX has attempted to launch Starship since the company made its stock market debut in June, listing under ticker SPCX at $135 per share. Public investors are now watching every Starship outcome in real time, and a last-second abort carries more visibility than it would have six months ago.

Flight 13 was designed to be one of the most consequential tests in the program’s history. It was set to carry 20 Starlink V3 satellites, the first operational payload Starship has ever attempted to deploy. Six of those satellites carried external cameras to photograph Starship’s heat shield from the outside during flight, which would act as a self-inspection approach SpaceX has never attempted before. The mission also needed to complete a Raptor engine relight in space, a step SpaceX skipped on Flight 12 in May after losing an engine during ascent. That Flight 12 booster also flipped 90 degrees off course during its boostback burn when five engines failed to reignite.

SpaceX has not announced an official next launch date. Musk’s “early next week” window points to July 21 or 22 at the earliest, pending the engine swap and a return to the pad.

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Investor's Corner

Lucid CEO dispels any rumors of bankruptcy: ‘So far from the facts’

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Credit: Lucid

Lucid CEO Silvio Napoli responded to rumors of an imminent bankruptcy that was reportedly being mulled after a report stated the automaker was working with the firm AlixPartners to iron out its next steps.

The company felt a massive loss on Wall Street yesterday, as the report essentially pushed the stock down as much as 55 percent on Tuesday.

The report, published initially by Eletric-Vehicles.com, claimed Lucid was essentially in dire straits and was told by AlixPartners, a commonly used restructuring advisor, to either take shares private or file for Chapter 11 bankruptcy protection.

Lucid denies rumors of bankruptcy after over 40% stock drop

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Lucid’s head of Communications, Nick Twork, immediately challenged the report and stated the company “has sufficient liquidity to carry its operations well into next year.”

Now, the company’s CEO is chiming in as well, stating that the report is “so far from the facts that they require a direct response.”

Napoli said:

“Lucid is not considering bankruptcy or a transaction to take the company private. Those reports are false. The Board did not explore either scenario. Period.

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As disclosed in our most recent quarterly filing, Lucid has sufficient liquidity to fund its operations well into next year.

We work with outside advisors to improve operational performance and execution. They are not advising Lucid on a take-private transaction or bankruptcy, and any suggestion that they have recommended either course of action to management or the Board is false.

My priority is clear: turn this company around. That is where the leadership team and I are focused.

I look forward to providing a full update during our quarterly earnings call on August 4th.”

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It seems pretty clear that Lucid is confident things will be okay, and, to be honest, they should not have much to worry about, especially considering the company has been backed by the Saudi Public Investment Fund (PIF) for years. It has solid financial backing, and its sales, while weak, are pretty much right on par with a company of this age.

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Lucid also sent a Cease & Desist letter to the publication for their report.

Lucid shares have rebounded nicely and are up nearly 21 percent at the time of publication. As soon as the company dispelled the rumors of bankruptcy yesterday, the stock began to climb back toward more reasonable levels.

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Investor's Corner

Lucid denies rumors of bankruptcy after over 40% stock drop

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Credit: Lucid

Electric vehicle maker Lucid Group has denied rumors of an imminent bankruptcy after a report from this morning sent the stock on a dramatic drop on Wall Street, seeing losses of more than 40 percent during trading hours.

Lucid’s Director of Communications, Nick Twork, responded to the report from Eletric-Vehicles.com, which stated the company’s restructuring advisor, AlixPartners, was asked to review two decisions: taking Lucid shares private or filing for Chapter 11 bankruptcy protection.

The report also claims AlixPartners told the Lucid board to “concentrate on Gravity production while improving its quality, and to temporarily hold back the Lucid Air, the sedan that has defined the company since its launch.”

Twork said:

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Shares rebounded after the response to the report, halving its losses as the trading day neared 3 p.m. Eastern.

Lucid has struggled to get its sales off the ground and into more respectable numbers, but the company is in its early years, when things are hard to begin with. It is also backed by several notable investors, including the Saudi Public Investment Fund (PIF), which has nearly limitless money and likely would not ditch an investment of this size so soon.

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Lucid shares were down just 14 percent at the time of publication, a far cry from the 55 percent its losses topped out at during the day.

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