Capital Structure

9 Months Ended

Sep. 30, 2021

Note 9. Capital Structure

As of September 30, 2021, the Company had authorized a total of 432,000,000 shares for issuance, with 422,000,000 shares designated as common stock and 10,000,000 shares designated as preferred stock.

As discussed in Note 2, Business Combination, the Company has retroactively adjusted the shares issued and outstanding prior to March 12, 2021 to give effect to the exchange ratio established in the BCA to determine the number of shares of common stock into which they were converted.

Prior to the Business Combination, Aeva had shares of $0.001 par value Series Seed, Series A, Series A-1, and Series B preferred stock outstanding, all of which were convertible into shares of common stock of the pre-combination Aeva on a 1:1 basis, subject to certain anti-dilution protections. Upon the Closing, the outstanding shares of preferred stock were converted into common stock of Aeva, Inc., and then into common stock of the Company at a ratio of 1:9.07659, the exchange rate established in the BCA.


	March 12, 2021
	(Closing Date)
	Preferred Stock Shares		Exchange Ratio		Common Stock Shares
Series Seed Convertible Preferred Stock (pre-combination)		3,198,556		9.07659		29,031,982
Series A Convertible Preferred Stock (pre-combination)		2,851,057		9.07659		25,877,876
Series B Convertible Preferred Stock (pre-combination)		1,032,888		9.07659		9,375,100
Series B-1 Convertible Preferred Stock (pre-combination)		1,524,279		9.07659		13,835,256
Total		8,606,780				78,120,214

Preferred Stock

The Company is authorized to issue up to 10,000,000 shares of preferred stock, each with a par value of $0.0001 per share. As of September 30, 2021, no shares of preferred stock were issued and outstanding.

Warrants

As of September 30, 2021, the Company had 12,075,000 public and 384,000 private warrants outstanding. Each warrant entitles the registered holder to purchase one share of common stock at a price of $11.50 per share.