Ree Automotive prices 2.2M shares at $4.25 in increased direct offering

REE Automotive (REE) entered into securities purchase agreements with certain existing strategic investors, including M&G Investments and Motherson Group, for the purchase and sale of 2,219,176 ordinary shares at a purchase price of $4.25 per share, pursuant to a registered direct offering, resulting in gross proceeds of up to approximately $9.4M at closing before deducting placement agent commissions and other offering expenses. The closing of the offering is expected to occur on or about March 27, 2025, subject to the satisfaction of customary closing conditions. The complete registered direct offering, including the proceeds from the offering announced on March 18, 2025, totals $36.4 million led by Motherson Group, one of the world’s leading automotive suppliers; M&G Investments, and new and existing shareholders, at a purchase price of $4.25 per share. REE issued a total of 8,595,807 shares of its ordinary shares in the current and prior offering combined. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes. A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.