Aeva Technologies (AEVA) said late Wednesday it launched a follow-on public offering of $100 million of its common stock.

Underwriters will have a 30-day option to buy up to an additional $15 million of the company's shares, according to a statement.

The company said it intends to use the net proceeds for general corporate purposes, including meeting commercial interest in AI infrastructure and Co-Packaged Optics, along with demand for its existing applications.

Shares fell more than 9% in after-hours trading.