# EDGAR Filing Document

**Accession Number:** 0001786471
**File Stem:** 0000000000-25-006407
**Filing Date:** 2025-6
**Character Count:** 10665
**Document Hash:** 1d3d93475a100920ae9918c3e2654aa6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000000000-25-006407.hdr.sgml**: 20260320

**ACCESSION NUMBER**: 0000000000-25-006407

**CONFORMED SUBMISSION TYPE**: UPLOAD

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250618

**FILED FOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Aptera Motors Corp
- **CENTRAL INDEX KEY:** 0001786471
- **STANDARD INDUSTRIAL CLASSIFICATION:** MOTOR VEHICLES & PASSENGER CAR BODIES [3711]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 834079594
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** UPLOAD
- **SEC FILE NUMBER:** 377-07888

**BUSINESS ADDRESS:**
- **STREET 1:** 5818 EL CAMINO REAL
- **CITY:** CARLSBAD
- **STATE:** CA
- **ZIP:** 92008
- **BUSINESS PHONE:** 858-371-3151

**MAIL ADDRESS:**
- **STREET 1:** 5818 EL CAMINO REAL
- **CITY:** CARLSBAD
- **STATE:** CA
- **ZIP:** 92008
**PUBLIC REFERENCE ACCESSION NUMBER**: 0001641172-25-004087

## Text-Extract

```

                                                            June 18, 2025

Chris Anthony
Co-Chief Executive Officer
Aptera Motors Corp.
5818 El Camino Real
Carlsbad, CA 92008

       Re: Aptera Motors Corp.
           Amendment No. 2 to Draft Registration Statement on Form S-1
           Submitted June 5, 2025
           CIK No. 0001786471
Dear Chris Anthony:

     We have reviewed your amended draft registration statement and have the
following
comment(s).

       Please respond to this letter by providing the requested information and
either
submitting an amended draft registration statement or publicly filing your
registration
statement on EDGAR. If you do not believe a comment applies to your facts and
circumstances or do not believe an amendment is appropriate, please tell us why
in your
response.

      After reviewing the information you provide in response to this letter
and your
amended draft registration statement or filed registration statement, we may
have additional
comments. Unless we note otherwise, any references to prior comments are to
comments in
our May 16, 2025 letter.

Amendment No. 2 to Draft Registration Statement on Form S-1
Cover Page

1.     We note your revisions in response to prior comment 3 and reissue in
part. Please
       revise the cover page to clearly describe the circumstances or events in
which the
       conversion of Class A common stock and Series B-1 preferred stock is
mandatory or
       optional, as well as exceptions to provisions requiring mandatory
conversion of shares
       upon their transfer.
2.     We note your disclosure that    [e]ach holder of Series B-1 preferred
stock is entitled to
       one vote for each share of Class B common stock issuable upon conversion
of the
       Series B-1 preferred stock at the then-effective conversion rate.
This appears
 June 18, 2025
Page 2

       inconsistent with your other disclosures that your Class B common stock
and Series
       B-1 preferred stock, which converts into Class B common stock, are not
entitled to
       vote. Please revise to clarify.
Risk Factors
Risk Related to Our Business
Aptera depends on a small management team and may need to hire more people to
be
successful., page 13

3.     We note your revised disclosure that you expect to enter into employment
agreements
       with your executive officers in connection with your listing on Nasdaq.
Please revise
       the filing to describe the material terms of these agreements and file
the exhibits.
       Refer to Items 402(o) and 601(b)(10) of Regulation S-K.
Risks Related to Ownership of our Class B Common Stock
Our restated certificate of incorporation will contain exclusive forum
provisions for certain
claims..., page 16

4.     We note your revisions in response to prior comment 9 and reissue in
part. You
       disclose in Exhibit 3.3, Article XIV that    [u]nless the Corporation
consents in writing
       to the selection of an alternative forum, the federal district courts of
the United States
       of America shall be the exclusive forum for the resolution of any
complaint asserting
       a cause of action arising under the Securities Act, or any successor
thereto or, to the
       fullest extent permitted by law, under the Exchange Act, or any
successor thereto.
       Please tell us how the first part of this sentence is consistent with
your disclosure on
       page 16 that the exclusive forum provisions do not apply to actions
arising under the
       Securities Act or the Exchange Act, or revise. Further, please revise to
clarify what
          any successor thereto    means.
Management's Discussion and Analysis of Financial Condition and Results of
Operations
Overview, page 29

5.     We note your revisions in response to prior comment 6 and that you
expect your high-
       volume production to be 20,000 cars per year, which you expect that your
current
       facility can produce. However, you disclose on page 43 that your current
facility,
          once fully equipped and operational, will be suitable for commencing
low-volume
       production and meeting our initial market demand    and that to meet
your    longer-
       term production targets,    you anticipate that you    will require
additional
       manufacturing capacity.    Please revise to reconcile these apparent
inconsistencies.
       Further, we note your disclosure that you consulted with    lean
manufacturing
       consultants    to anticipate your annual production rate. Please revise
to elaborate on
       who these parties are.
Liquidity and Capital Resources, page 35

6.     We note your disclosure that you anticipate receiving    an estimated $6
million in
       calendar year 2025 and $14 million in calendar year [sic]    under your
CEC grant,
       subject to meeting certain milestones. However, we note your other
disclosure on
       page 36 that CEC approved a time extension on your near-term milestones
and your
       new milestones are    to manufacture and sale [sic] 50 vehicles by
February 2026 and
 June 18, 2025
Page 3

       500 vehicles by October 2026.    Please revise to reconcile these
apparent
       inconsistencies.
7.     We note your revisions in response to prior comment 11 and reissue in
part. Please
       revise to describe all long-term cash requirements (i.e., beyond the
next 12 months).
       Refer to Item 303(b)(1) of Regulation S-K.
Principal and Registered Stockholders, page 55

8.     We note your revisions in response to prior comment 19. Please revise
the following
       to address areas that appear to present inconsistencies, or advise:
           Refer to the Class B column. It appears that the percentages total
103%, instead of
           100%.
           Refer to the    Non-Executive and Non-Director Vendors and Services
Providers
           row. It appears that the Shares of Class B Common Stock Registered
column
           should total 6,601,642 instead of 6,888,642.
           Refer to the    All Other Registered Stockholders    row. It appears
that the Shares
           of Class B Common Stock Registered column should total 28,542,276
instead of
           29,282,319.
           Refer to footnote (9), which does not appear.
           You disclose on page F-33 that you issued 434,782 shares of Class B
common
           stock to Chery Automobile Co. Ltd. However, this table does not
include this
           entity.
9.     We note that certain registered stockholders are not natural persons. We
also note
       cross-references to the Management and Certain Relationships and Related
Party
       Transactions sections on page 54 regarding material relationships that
you had with
       the registered stockholders. Please revise to cross-reference the
description of your
       warrants and license agreement with Chery, as appropriate. Further,
please revise to
       disclose the Item 507 information about any persons (entities or natural
persons) who
       have control over the selling entity and who have had a material
relationship with the
       registrant or any of its predecessors or affiliates within the past
three years. In such
       case, your disclosure must identify each such person and describe the
nature of any
       relationships. See Question 140.02 of the Division of Corporation
Finance   s
       Compliance & Disclosure Interpretations on Regulation S-K.
Plan of Distribution, page 68

10.    Please revise to disclose sales prices in recent private transactions
(including high and
       low sales prices), if applicable, and that such recent sales prices may
bear little or no
       relation to the trading price at or subsequent to the opening of trading
on Nasdaq.
       Update the Sale Price History of our Capital Stock section, as
appropriate.
Part II Information Not Required in Prospectus
Item 15. Recent Sales of Unregistered Securities, page II-2

11.    We note your revisions in response to prior comment 20. Please revise to
name the
       persons or identify the class of persons to whom the securities were
sold. Refer to
       Item 701(b) of Regulation S-K. Further, we note that you deleted the
sales of
 June 18, 2025
Page 4

       securities pursuant to Rule 701. However, we note disclosure on page
F-38 that you
       granted stock options pursuant to your 2021 Stock Option and Incentive
Plan within
       the past three years. In addition, you disclose on page F-17 that you
issued shares of
       Class B common stock to Chery Automobile Co. Ltd.; however, this entity
does not
       appear. Finally, you disclose on page F-35 that you issued warrants to
service
       providers to purchase shares of Class B common stock; however, these
warrants are
       not described. Please revise to clarify.
Item 16. Exhibits and Financial Statement Schedules, page II-3

12.    We note that you filed Exhibits 4.2 through 4.4 in response to prior
comment 23.
       Please file the final warrants. Currently, these exhibits are undated
and have numerous
       blanks/brackets.
       Please contact Andi Carpenter at 202-551-3645 or Hugh West at
202-551-3872 if you
have questions regarding comments on the financial statements and related
matters. Please
contact Jenny O'Shanick at 202-551-8005 or Jay Ingram at 202-551-3397 with any
other
questions.

                                                            Sincerely,

                                                            Division of
Corporation Finance
                                                            Office of
Manufacturing
cc:   Jamie Ostrow

```

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