Aeva Technologies (AEVA) Secures $100M from Apollo to Scale 4D LiDAR Rollout

Aeva Technologies, Inc. (NASDAQ:AEVA) is one of the small-cap tech stocks on Wall Street's radar.

On November 5, 2025, the company announced a $100 million investment from funds managed by Apollo Global Management, structured as 4.375 % convertible senior notes due 2032 with an initial conversion price of $15.8643, roughly a 15 % premium to AEVA’s closing price the day before the deal.

CEO Soroush Salehian said the financing reflects “strong confidence” in Aeva’s market position and will accelerate deployment of its FMCW 4D LiDAR technology across automotive, industrial, and robotics applications. The company noted the funding will help scale commercialization and manufacturing efforts for its perception platform.

A few days later, on November 7, 2025, Morgan Stanley’s Joseph Moore maintained an Equal Weight rating on AEVA and trimmed his price target to $18.55 from $19.

Aeva Technologies, Inc. (NASDAQ:AEVA), based in Mountain View, California, develops next-generation perception systems that combine lidar-on-chip and silicon photonics to measure both velocity and position. Its 4D LiDAR sensors target autonomous driving, manufacturing automation, and smart infrastructure markets.

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Disclosure: None.