Apollo Funds Invest $100M in Aeva Technologies Convertible Senior Notes

Information Technology · United States · $100M

Funds managed by Apollo agreed to purchase $100 million in aggregate principal amount of 4.375% Convertible Senior Notes due 2032 from Aeva Technologies, announced November 5, 2025. The Notes carry an initial conversion price of $15.8643 per share, a 15% premium above Aeva's November 4, 2025 closing price, and mature November 15, 2032. Interest is payable in cash or Aeva common stock, and Aeva can elect to settle conversions in cash, stock, or a combination. Morgan Stanley advised Aeva; Gunderson Dettmer and Fenwick & West served as Aeva's legal counsel; White & Case advised the Apollo Funds.