Aeva Technologies closed its follow-on public offering on June 5, 2026. The transaction generated $115 million in gross proceeds. The company sold approximately 5.17 million shares of common stock. Shares were priced at $22.25 each. This total includes the full exercise of the underwriters' option to purchase additional shares.
Aeva intends to use the net proceeds for general corporate purposes. The capital will specifically support commercial interest in AI infrastructure and Co-Packaged Optics.
The pricing announcement on June 4 triggered a negative market reaction. Aeva's stock fell 8.8% during the regular session. Shares declined nearly 12% further in after-hours trading. This drop reflects investor concerns over share dilution despite a strengthened balance sheet for growth.