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Aptera investor info (2)
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Aptera investor info (2)
updated 1 week, 2 days ago
54 Members
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119
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Aptera filed a seemingly new offering with the SEC today:
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I was looking at that one earlier and I wasn’t sure what it was about. Could this relate to the mythical $20M investment (mentioned in SEC filings quite a while ago)? My impression at the time was that it was probably gated on early production / Delta.
Alternatively maybe it is saying that Chris is selling off $79k of his own options. I can’t read S.E.C. well enough to translate it to English.
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This reply was modified 10 months, 3 weeks ago by Michael Marsden.
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This reply was modified 10 months, 3 weeks ago by
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I’m looking at becoming a non-accredited investor, now that Aptera has closed the window for this to happen for me, any idea as to when the window will reopen to restart non-accredited investments? About how long will it take for the SEC to approve reopening this option for the possibilities of Aptera non-accredited investors to invest?
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This depends on how long it will take the SEC to approve whatever changes Aptera made to their filing. This could be anywhere from weeks to months… 🙁
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I received an email stating that my shares in ComputerShare are now available to transfer to other investors since they are unrestricted.
I wonder if anyone here wants to liquidate their shares and is considering selling them for less than the current $10.50/share price.
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Maybe, but I’d bet you could find people willing to buy them at a discount! (I have no idea how or what rules and regulations would apply.)
Most every investor here is in it for the long haul, knowing there was no market for this stock when we invested, and may not be for several years.
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This reply was modified 10 months, 2 weeks ago by Harry Parker.
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This reply was modified 10 months, 2 weeks ago by Harry Parker.
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That’s what I’m looking for. I’d like to purchase additional shares from someone that is looking to liquidate.
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This reply was modified 10 months, 2 weeks ago by
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There’s a new filing with the SEC today and in the “Current Status” section there’s this:
“The company is currently accepting deposits for pre-orders of $100. These deposits are fully refundable. Our estimated first deliveries on these pre-orders is Q2 of 2024. To date, our cancellation rate on these preorders is under 5%. As of July 14, 2023, we have 43,000 preorders.
Our estimated first deliveries on these pre-orders is Q2 of 2024 and by 2025 we anticipate producing 7,000 cars a year, and by 2026, we anticipate producing 20,000 cars a year, and therefore we anticipate that we should be able to fulfill the preorders in 2027. Our ability to achieve the figures above are conditioned on raising a significant amount of capital, closing a significant number of our preorders, availability of materials and goods necessary to produce the vehicles, availability of manufacturing facilities, and uninterrupted supply chains.”
The filing can be found at: PART II AND III (sec.gov)
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I am happy to get some feel for ETA on production. I think we’re all excited to get this on the road, but are realistic about the logistics and time to work through bugs, etc.
I had planned to join the accelerator program and missed the pause announcement. My investment day on my calendar was on Monday, June 12th. It paused on Sunday, June 11th! Seriously, one day!?
I was bummed and am awaiting the reopening so I can join yin before it hits 2000. The longer the pause the more may be waiting in the que. I check regularly now, but so far no word on when the pause will end.
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Why is Aptera still prohibited from selling stock to non-accredited investors months after they were forced to stop the Accelarate investment program?
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It’s all explained in this video:
Why is Aptera pausing investments? – YouTube
The Accelerator program is still going – has not stopped.
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I thought I read somewhere that the current stock offering is scheduled to end sometime this month. 8/17/23? Has this offering been officially extended?
August 29 is mentioned on Republic…does this apply to Issuance too?
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Aptera posted a new filing with the SEC today:
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That’s the third 1-A POS in short succession … there’s only one significant change I can find, which is the amount of class A common stock.
20th July vs 10th August
Class B common stock up by 150k shares or so
New paragraph – “Since June 15, 2023, the Company has been selling Class B Common Stock under Regulation D on similar terms to those offered in this offering. As of August 8, 2023, the Company has sold 51,655 shares of Class B Common Stock for gross proceeds of $542,378 in that offering.“
In the section about security ownership,
(2)
Based on 66,878,993 shares of Class A Common Stock outstanding.
Changed to:
(2)
Based on 55,714,810 shares of Class A Common Stock outstanding.
Now curiously, the first 1-A POS filing from June also had 55M, which matches 10th August .
Based on 55,714,810 shares of Class A Common Stock outstanding.
(so I wonder if the 66M for July was a typo)
Regulation A Investment Subsequent to December 31, 2022, the Company has closed 2,117,089 shares of Class B common stock for $22.2 million of investment through the Regulation A offering.
Regulation D Offering Subsequent to December 31, 2022, the Company initiated a Regulation D Rule 506C offering. Since opening that offering the Company has closed 19,250 shares of Class B common stock for $202 thousand of investment through the offering.
Changes to:
Regulation A Investment Subsequent to December 31, 2022, the Company has closed 2,280,382 shares of Class B common stock for $23.4 million of investment through the Regulation A offering.
Regulation D Offering Subsequent to December 31, 2022, the Company initiated a Regulation D Rule 506C offering. Since opening that offering the Company has closed 51,655 shares of Class B common stock for $542 thousand of investment through the offering.
12.1 Validity Opinion of CrowdCheck LLP*
* Previously filed.
Changes to:
12.1 Validity Opinion of CrowdCheck LLP**
** To be filed by amendment
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So the CF-SMC change cost them nearly ten million dollars and they have an open five million dollar purchase order setup.
They officially terminated the lease on the Vista facility which they only moved into in June of 2022. Initial impairment was 1.3m and possible up to 7.5m. Apparently they decided this back in December. While the 1.3m was on the annual report the exposure of up to 7.5 was not. This was a 160k per month lease plus maintenance, taxes, and utilities, to be paid by Aptera. This was the solar facility. Part of the realized impairment could be if any vendors setup in Vista and now need to move their equipment and Aptera has to return the building to near the state it was acquired. Typically if you end a lease early you are on the hook until the landlord can lease it to someone else.
The expected 21 million dollar Q3 investment has been removed from the document, this was made in October of 2022 and was in the annual report. This is now apparently gone,
So they blew a lot of money on that facility, a good chunk of what is effectively the Accelerator investments which may as well be labeled donations at this point, on expansion they clearly were never in position to capitalize on.
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I am personally disheartened by the lack of input by the Aptera staff. If they are relying on the ambassadors to do that for them, that is just a bad game of telephone.
No disrespect to the ambassadors, but it is just bad practice.
Why doesn’t Aptera keep their investors up to date?
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The SEC has strict rules about what can be shared with the public in terms of a company’s finances. As required, Aptera provides updates via its filings with the SEC and those are shared in this forum.
This forum provides a great aggregation of all of the Aptera related information which is shared on various other media channels. Aptera enthusiasts contribute here to try to provide one place to find it all.
Aptera has a very small staff who must weigh what can be shared publicly and when. You can be assured that when noteworthy information can be shared, it will be done so, and it will shortly be discussed in this forum.
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I suspect the reason for no news is that there is no news. They are in limbo because they haven’t been able to raise enough money to get to the next step which is production but they have raised enough to keep the lights on for a while.
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The accredited investor requirement has been lifted and anyone can invest again.
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I have been waiting for the pause to end as I missed investing for Accelerator by one day. I am now, as of today, invested through Issuance investor dashboard. I do have my prior investment in shares sitting with Computershare. Does that get rolled into my total shares for leaderboard or do I need to move the shares to Issuance? If yes, how?
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Below is a COPY & PASTE quote from an email from Aptera that I got this afternoon, 9/5.
“In harmony, we are proud to announce that our investment window is live and open to all investors at $10.50 per share once again. Now, you can increase your investment to move your position up on the Leaderboard through our secure investment portal at invest.aptera.us.”
Just be patient for Aptera to reconcile all your purchases, they should eventually show up correctly on the leaderboard.
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New filing with the SEC yesterday.
https://www.sec.gov/Archives/edgar/data/1786471/000119312523228374/d526648d253g2.htm
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this is just the end result of all the previous filings to adjust share price which I haven’t seen change. The SEC rules can be a bit daunting.
What is most important is that before the end of this month, a little over three weeks away, Aptera is legally required to file their 1-SA detailing the state of the company as of June 30th 2023. Hopefully they file this before taking new investments as that would be the proper way to go. They have had since July 1st to file the 1-SA but they typically wait till the last legal days to file these types of statements.
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There’s just one new piece of info in that 253G2 filing:
> Sales of these securities will re-commence on September 5, 2023.
Everything else is basically taken from either the most recent form 1-A POS (the 4th) or the annual report.
The SEC themselves posted this:
https://www.sec.gov/Archives/edgar/data/1786471/999999999423000297/xslQUALIFX01/primary_doc.xml
Which is their approval of the 1-A POS. The intent of the 4 1-A POSes was to increase the number of shares available to unaccredited investors in the offering up to the allowed limit.
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This reply was modified 8 months, 1 week ago by Michael Marsden.
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This reply was modified 8 months, 1 week ago by Michael Marsden.
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This reply was modified 8 months, 1 week ago by Michael Marsden.
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This reply was modified 8 months, 1 week ago by
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Hey all, investor here getting cold feet. I’ve asked Aptera Invest to give me some details on funding to which they have not responded. Here are my concerns as an investor. They don’t have enough money to get into production and keep passing the tin cup around asking for more money. No cash – no car. I’ve asked about their funding cycle, how much has been raised to determine whether they are going to have enough to fund production or if the velocity of investments are slowing down such that an investor can determine whether or not to pull the plug on their investment. I would think everyone would like to see a graph of money raised/month to extrapolate forward to gauge the chances production and an IPO actually occur. I’m not an emotional booster, I’m a data driven investor. If anyone has seen such a graphs or stats please share. Thanks.
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Totally understand the anxiety this causes you. This company has been pretty transparent, but financials are kept close to the vest. I think they need to do that for a couple reasons. Startups are risky and full transparency would likely spook a lot of people. I am sure Steve and Chris have had plenty of sleepless nights that we will never know about, thankfully (we are passive investors after all). I also think they need to be careful on what they report since anything they say can come back to bite them if a situation changes. The best we can do is hang tight. It is still elusive to understand what funding they need to get started, but I do trust they are working hard to make that happen.
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The easiest source of recent investment pace comes from the Accelerator Leaderboard. There are some who have collected the data and charted it, I haven’t personally duplicated the effort. There’s also someone who post weekly updates in this regard in YouTube. https://youtu.be/jinzc8GNp-k
It’s more interesting now that it’s open again for non-accredited investors.
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Aptera posted its semi-annual fiscal report:
sec.gov/Archives/edgar/data/1786471/000110465923104714/tm2326784d1_1sa.htm
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Stand-out items for me:
* Vista lease settled for $1.8M (elsewhere it says $1M but I assume a typo), this is a significant improvement over the $7.5M potential. I count that as a win.
> In September, 2023, we signed an early surrender agreement with the landlord releasing the Company from its obligations under the lease. In exchange for the early surrender, we agreed to pay a cash settlement of $1.8 million. The settlement amount is included in restricted cash and accrued expenses as of June 30, 2023.
There are no real surprises in the rest of the document.
* Cash reserves about double from the previous (no doubt due to the accelerator program)
* They’re giving people (& Chery) shares instead of cash where they can
* We already knew this from the annual report, but since last year’s H1 1-SA report they cut a lot of staff.
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A short filing detailing the perks for investing was posted today with the SEC:
sec.gov/Archives/edgar/data/1786471/000110465923122628/tm2331788d1_253g2.htm
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The conditions of the new coupon are: The maximum an investor can use in coupons on a single vehicle is $1,100 (the coupons for the first two levels). The coupons cannot be transferred, redeemed or assigned. The coupon can be used with the 5% discount, and will be applied prior to calculating the discount. The $1,000 coupon will only be applicable to those that invest or that sign a subscription agreement on or after December 1, 2023.
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Thanks for the post, interesting!
Always easier to get more funds from a current investor vs getting a first investment from a potential investor and this coupon is designed to do that. Will be interesting to see how many current investors will put more in for the coupon. Unfortunately, it isn’t an emotional call, which tend to be more effective.
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Sorry, I’m not clear on the arrangement. If you are a $10K Accelerator what discount/coupon do you get?
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That has not changed – 5% off up to $2500 max. For any new Accelerator after today – they get another $1100 off on top of that.
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A new Accelerator today will get:
$1,660 off (5% of the $33,200 list price of LE)
$1,100 off (stacking the coupon for $1000 and $2000 invested)
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Is this for investments totaling $2k? Or is this only for a new investment of $2k?
https://twitter.com/aptera_motors/status/1730678503480119412?s=19
If someone invested the minimum amount ~$1k previously and then invested again, the minimum $1k amount, would they qualify for this?
New investment perk for the holidays! Invest $2,000 or more in Aptera, and get $1,000 off your vehicle.
Learn more about this exciting opportunity here → https://t.co/2Tbi0ttsuO pic.twitter.com/cdFKmoHpf4
— Aptera (@aptera_motors) December 1, 2023
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Investments from 12/01/2023 are counted towards the two coupons. Investment of $2,000+ any time on or after 12/01/2023 (while this offer lasts) will get 2 coupons totaling $1,100. A $100 coupon for investing $1,000 and a second coupon for $1,000 for investing $2,000.
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My reading of SEC offers based on link below. Please add any corrections or clarifications.
Perks based on:
https://www.sec.gov/Archives/edgar/data/1786471/000110465923122628/tm2331788d1_253g2.htm
The Company is offering perks at no additional cost to the investors based on amount invested under one subscription agreement. Investors will receive the perks listed for each investment tier as well as all perks for the lower investment tiers:
PERKS (see link above for actual SEC text)
Tier 1 – Invest $1,000 to $1,999.99
- Receive $100 off coupon. Can be used to offset pre-order reservation fee
Tier 2 – Invest $2,000 to $9,999.99
- Receive $100 off coupon, PLUS
- Receive $1,000 off coupon FOR
a. New investors that invest 2k or more on or after December 1, 2023
b. Existing investors who add 2k or more to existing investments on or after December 1, 2023
Tier 3 – Invest $10,000 to $24,999.99
- Receive $100 off coupon, PLUS
- Receive $1,000 off coupon* PLUS
- Receive 5% off the “purchase price less the $1,100 in coupons” with a max reduction of $2,500 for this discount
Tier 4 – Invest $25,000 to $99,999.99
-Tour of Aptera headquarters in Carlsbad, California
=Test ride in one of our development vehicles
Tier 5 – Invest $100,000 or more
– Lunch with our founders, Chris Anthony and Steve Fambro.
– ACCELERATOR PERKS-
Invest $10,000 or more on or after January 27, 2023, AND be among the first 2,000 to do so, and get one of the first 2,000 vehicles offered off the production line (subject to design offering,) with priority by amount invested, plus a few other perks.
The Accelerator investment can overlay Tier 1 through 5 perks above provided one qualifies for tiers by amounts and dates or after December 1, 2023.
– There may exist non tier perks for things like new customer referrals
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This reply was modified 5 months, 2 weeks ago by Thomas Forsyth.
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So to super-simplify this, am I understanding this correctly?
I invested $21k earlier. That gets me 5% off.
Now, if I invest $2k more, I get $1,100 MORE off, effectively making my $2k investment cost $900?
And if instead of $2k, I invest $4k, then I get 5%, $1,100 off (before the 5% calculation), AND a tour of the facility?
Thank you
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This reply was modified 5 months, 2 weeks ago by
Amit Mehta Mehta.
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Correct.
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This reply was modified 5 months, 2 weeks ago by
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I’m not sure I understand.
I bought $1050 of stock a year ago. If I buy another $950 of stock then I get $1000 off my Aptera?
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No, you must buy $2000 of stock ON or AFTER 12/1/2023 to get that discount. Any stock purchase before 12/1/2023 does not count for that discount.
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I asked if and when I’d receive my 1k off coupon. Here’s the reply…
“Investors qualifying for the perk will receive a $1,000 coupon off the purchase price of the vehicle, which will be redeemed and applied at purchase time. All investor data, including investment dates and amounts, are tracked by Aptera Motors. We will apply all qualifying coupons leading up to and at the time of purchase.”
