REE Automotive Announces Pricing of $27 Million Registered Direct Offering of Ordinary Shares

Core Viewpoint - REE Automotive Ltd. has announced a registered direct offering of 6,376,631 ordinary shares at a price of $4.25 per share, aiming to raise approximately $27 million in gross proceeds before expenses [1][2]. Group 1: Offering Details - The initial closing of the offering is expected around March 19, 2025, pending customary closing conditions [1]. - Motherson Group, a significant existing shareholder, has been invited to invest up to $10 million in a second closing by March 28, 2025 [2]. - The net proceeds from the offering will be utilized for working capital and general corporate purposes [2]. Group 2: Company Overview - REE Automotive is focused on developing software-defined vehicles (SDVs) that enhance safety, modularity, and performance through proprietary software [5]. - The company is targeting the first deliveries of its flagship P7-C electric truck in the first half of 2025 [5]. - REE's technology is supported by a global supply chain managed by Motherson Group, which is also its second-largest investor [5].