REE Automotive Receives Nasdaq Extension to Regain Compliance

Core Viewpoint - REE Automotive Ltd. has been granted a 180-day extension by Nasdaq to meet the $1 minimum bid price requirement for its Class A ordinary shares, now having until June 29, 2026 to regain compliance [1][3]. Compliance Status - Nasdaq notified REE on July 1, 2025, that its Class A ordinary shares had been below $1.00 for 30 consecutive business days, triggering a deficiency under the Minimum Bid Price Requirement [2]. - Following the extension request, Nasdaq confirmed that REE meets all other continued listing criteria, allowing the company to continue trading under the symbol "REE" during the additional compliance period [3]. Compliance Requirements - To regain compliance, REE's ordinary shares must achieve a closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days during the additional compliance period [4]. - The company is considering various options to regain compliance, including a potential reverse stock split if necessary [4]. Company Strategy - The company remains focused on executing its strategy and is committed to regaining compliance with Nasdaq's listing requirements [5]. - REE Automotive develops software-defined vehicle (SDV) technology aimed at enhancing vehicle safety, performance, and reliability through its advanced Zonal SDV Architecture [5]. - The technology allows for continuous updates and improvements throughout a vehicle's lifespan, making REE vehicles adaptable to market changes [5].