Aptera Stock: Driving Toward a Solar Powered IPO?

Explore opportunities to own Aptera stock before the IPO date. The company is conducting a convertible note offering of $60 million to eligible investors as of September 2024. 

Access more established pre-IPO startups like OpenAI, ServiceTitan, and Databricks via the Fundrise Innovation Fund. $10 minimum investment. 

---

Notable Aptera News

07/17/2024: US Capital Announces $60M Convertible Note
06/12/2024: Aptera is Proud to Utilize Crowdfunding 
05/31/2024: Aptera filing details financial status and production plan

About Aptera

Aptera Motors Corp is a solar electric vehicle (sEV) startup founded by Steve Fambro and Chris Anthony, headquartered in Carlsbad, CA. They started the company in 2006 but scrapped the idea a few years later, liquidating its intellectual property.

It then relaunched in 2019 when supply chains improved, and consumer demand for EVs became more reliable. 

It’s on a mission to create the most efficient transportation on the planet by focusing on refining its ultra-efficient sEV, optimizing for long-range capabilities and minimal environmental impact. 

Its flagship product is a lightweight, three-wheeled vehicle capable of achieving up to 1,000 miles of driving range on a single charge, plus integrated solar panels that can provide an additional 40 miles of daily driving, making it self-sufficient for typical daily use.  

The vehicle’s aerodynamic teardrop design, low weight, and advanced materials contribute to its high efficiency, using less energy than typical EVs.

Aptera has conducted multiple crowdfunding campaigns and collected more than 48,000 vehicle pre-orders, representing $1.7 billion in revenue. It has many “Aptera fans” following the company from startup to scaled manufacturer.

The company encourages its fans to invest. As of September 2024, the company is raising new money via a $60 million convertible note offering through US Capital.

Here’s a video of people interacting with the car in the streets. Aptera has an active YouTube channel where you can learn about the latest company developments.

Ownership

Aptera is an early-stage startup that has executed multiple crowdfunding campaigns to raise funds. 

Ownership includes the founders, executive team, Michael Johnson Properties, Ltd., the Patrick H. Quilter Trust, and more than 17,000 individual investors and fans. Aptera manages investor equity through Computershare and Issuance and has crowdfunded on multiple platforms, including Republic. 

Funding Rounds

Aptera has sold shares to investors and customers and compensated service providers with shares. Here’s a list of known share sales, as indicated in a recent filing. 

WordPress Data Table Plugin

As of September 2024, the company is selling $60 million in convertible bonds via US Capital.  

Valuation

As of the end of 2023, Aptera had 78,926,226 shares of various class shares outstanding. At 2024 share prices, the estimated Aptera valuation is between $825 and $870 million. 

However, share prices have been determined arbitrarily, according to a securities filing. 

Our management determined the number and price of Class B Common Stock to be offered by the company in our Regulation A offering. The price of the Class B Common Stock being offered was arbitrarily determined based upon our estimates of the current market value, illiquidity, and volatility of our common stock, our current financial condition, the prospects for our future cash flows and earnings, and market and economic conditions at the time of the offering. Unlike listed companies that are valued publicly through market-driven stock prices, the valuation of private companies, especially early-stage companies, is difficult to assess, and investors may risk overpaying for their investments.

Only when a secondary private marketplace is established will investors get an accurate Aptera valuation to make investment decisions. 

IPO Potential

It’s too early to be talking about an Aptera IPO date. Aptera is an early-stage startup with grand ambitions but has not proven itself a viable car manufacturer or business yet. 

It is likely several years from profitability and reliable revenue, let alone an IPO. 

Aptera is a high-risk startup whose future is uncertain until it proves its technology and ability to execute its master plan.

Should You Invest in Aptera?

This article does not recommend buying or selling Aptera stock.

Aptera has conducted significant research, prototyping, and testing its solar EV models. The prototypes are used to market the product for sales to generate revenue to help scale production. 

The company has pre-sold more than 48,000 vehicles, and many of its customers are investors. 

Car manufacturing is a difficult business. Elon Musk once said:

Manufacturing electric vehicles is insanely difficult. Those who have not actually been involved in manufacturing just have no idea how painful and difficult it is. It’s like you got to eat a lot of glass.

Rivian has learned this the hard way. Though the company raised $7 billion in its IPO to build assembly plants and ramp up production, it still struggles to gain momentum despite several years and billions. 

Aptera has raised over $120 million from more than 17,000 investors. 

Successful investing in Aptera will depend on its ability to market a cool-looking and efficient car and maintain and grow demand while executing its production targets. 

Read the Offering Circular and conduct personalized due diligence before considering an investment.

How to Buy Aptera Stock

Aptera stock is not publicly traded, but shares are available from time to time via crowdfunding campaigns.

Shares may also become available on secondary marketplaces since many individual investors participated in crowdfunding rounds. However, there may be restrictions on selling. 

I do not see an IPO as a viable option at this stage or in the intermediate future. The company must ramp up production, continue selling cars, and reach profitability. 

1. Invest via the Reg A+ Crowdfunding Campaign

U.S.-based retail investors can invest in Aptera through crowdfunding campaigns that happen frequently via the Aptera website and crowdfunding portal. As of the publication of this article, the company was raising a convertible debt note. 

But it has primarily used equity crowdfunding to raise capital and share ownership with fans and customers. 

Sign up for the email list and visit the website to prepare for the next equity opportunities. 

2. Access shares via pre-IPO investing platforms

Ordinary investors can monitor pre-IPO marketplaces for Aptera shares before the IPO. Investors must be accredited to acquire direct shares. 

A few platforms have evolved to allow equity owners to fund stock options or liquidate holdings before the IPO.

Linqto and Hiive consistently have shares of high-demand private companies available for investment by accredited investors. EquityZen and Forge Global are other platforms to monitor for shares. 

Investors must be accredited to invest directly in pre-IPO stocks. Minimum investments on these platforms range from $2,500 to $50,000.

If Aptera shareholders lose patience and want to sell shares before other liquidity options, they may turn to private platforms if their investment agreements allow it.

Non-accredited investors can access more prominent pre-IPO companies via venture capital funds such as the Fundrise Innovation Fund (review). The fund holds companies such as ServiceTitan, Anthropic, and OpenAI, but Aptera is not currently a holding in the fund. 

Check out our list of the best pre-IPO investing platforms for current platforms that may have shares available.

Please note: This is a testimonial in partnership with Fundrise and Linqto. We earn a commission from partner links on AccessIPOs.com. All opinions are my own.

Frequently Asked Questions (FAQs)

Is Aptera publicly traded?

No. Aptera is not publicly traded. 

What is the Aptera minimum investment?

The Aptera minimum investment has varied throughout its multiple crowdfunding campaigns. Investment minimums range from $210 to $1,000, depending on the offering and platform. 

What is the Aptera stock price?

Aptera is a private company, so its stock price does not trade on stock exchanges. 

Based on the disclosed share sales in the table above, investors purchased Aptera stock at $10.50 to $11.00 per share in 2023. 

However, since the stock price does not trade publicly, the stock price is arbitrarily determined by the company and advisors.

What is the Aptera stock symbol?

There is no Aptera stock symbol yet because the company is private and has yet to file for an IPO.

Here are a few Aptera ticker symbol possibilities that are available: 

• APTA
• APTR

Where is the Aptera S-1 Filing?

Aptera has not released a public S-1 filing. There are no indications that the company has submitted confidential filings or will in the coming years.

Monitor our S-1 filing feed for the latest SEC documents. 

The company has filed several SEC forms due to its crowdfunding activities. See all of Aptera’s SEC filings here. 

Conclusion

Many of the most innovative companies worldwide are private. But don’t let that deter you if you want to invest.

Private companies like Aptera are sometimes more challenging to own because their stocks trade privately, making them inaccessible to many ordinary investors.

However, Aptera is taking advantage of the loosened equity crowdfunding laws established in 2012. It can raise limited funds through smaller investments from individual investors. 

To entice them, Aptera has carefully crafted an outward pitch for car enthusiasts and customers. They are transparent with the company’s progress and comply with the necessary filing regulations.  

But that doesn’t make Aptera a surefire investment. The company is highly risky, being pre-revenue and far from a viable business.

Therefore, interested retail investors should carefully review the Offering Circular and press releases from the company to determine if it can continue building momentum toward a long-term future. 

Solar cars are a new category, and it’s unclear if customer demand can sustain the business in the long term. 

Non-accredited investors can buy the company during crowdfunding campaigns. Accredited investors who miss the window can monitor secondary marketplaces for early investors looking to cash out before an alternative exit. 

Monitor this webpage for the latest Aptera stock news and updates. 

* Disclosure: The web page contains affiliate links from our partners. If a reader opens an account or buys a service from a link in this article, we may be compensated. Opening an account with a broker that provides access to IPOs does not guarantee the customer allocations of specific IPOs. The author is long the Fundrise Innovation Fund, but does not have an ownership stake in Aptera stock.