Aeva Technologies, Inc. is trading 9.7% down at $22.86 after announcing a $100 million follow-on stock offering priced at $22.25 per share, a steep discount to recent trading levels.
- The offering includes a 30-day option for underwriters to purchase an additional $15 million in shares.
- The stock is under pressure as investors weigh the impact of share dilution against the company’s ongoing cash burn concerns.