Ree Automotive prices 6.38M shares at $4.25 in registered direct offering

REE Automotive (REE) entered into securities purchase agreements with new institutional investors and certain existing strategic investors, including M&G Investments and Varana Capital, for the purchase and sale of 6,376,631 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 $27M at closing before deducting placement agent commissions and other offering expenses. The initial closing of the offering is expected to occur on or about March 19, 2025, subject to the satisfaction of customary closing conditions. Motherson Group, an existing shareholder and one of the world’s leading automotive suppliers, has been invited to invest up to $10M in a second closing for a fully subscribed round by no later than March 28, 2025. 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.