REE Automotive Raises $13M in Share Offering
Ticker: REE · Form: 6-K · Filed: Mar 4, 2024 · CIK: 1843588
| Field | Detail |
|---|---|
| Company | Ree Automotive Ltd. (REE) |
| Form Type | 6-K |
| Filed Date | Mar 4, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $6.50, $13 million, $13.59 million |
| Sentiment | bullish |
Sentiment: bullish
Topics: equity-offering, capital-raise, financing
TL;DR
REE Auto just sold 2M shares at $6.50 to Roth Capital, netting $13M. Bullish for cash.
AI Summary
On March 1, 2024, REE Automotive Ltd. entered into an underwriting agreement with Roth Capital Partners LLC for a public offering. The company sold 2,000,000 Class A Ordinary Shares at $6.50 per share, raising approximately $13 million in gross proceeds.
Why It Matters
This capital infusion provides REE Automotive with additional funds to support its operations and growth initiatives in the electric vehicle chassis market.
Risk Assessment
Risk Level: medium — While raising capital is positive, the company's financial performance and ability to execute its business plan remain key factors.
Key Numbers
- $13M — Gross Proceeds (Funds raised from the public offering of shares.)
- 2,000,000 — Shares Offered (Number of Class A Ordinary Shares sold in the offering.)
- $6.50 — Price Per Share (The price at which each share was sold.)
Key Players & Entities
- REE Automotive Ltd. (company) — Company conducting the offering
- Roth Capital Partners LLC (company) — Underwriter for the public offering
- March 1, 2024 (date) — Date of the underwriting agreement and public offering
- $13 million (dollar_amount) — Aggregate gross proceeds from the public offering
- 2,000,000 (number) — Number of Class A Ordinary Shares offered
- $6.50 (dollar_amount) — Purchase price per share
FAQ
What is the purpose of the $13 million raised by REE Automotive?
The filing indicates the funds were raised through a public offering of shares, providing the company with capital, though the specific use of proceeds is not detailed in this excerpt.
Who acted as the underwriter for this public offering?
Roth Capital Partners LLC acted as the underwriter for the public offering.
How many shares did REE Automotive offer and at what price?
REE Automotive offered 2,000,000 Class A Ordinary Shares at a purchase price of $6.50 per share.
When did the underwriting agreement and public offering take place?
The underwriting agreement was executed and the public offering was conducted on March 1, 2024.
What type of shares were offered in the public offering?
The company conducted an offering of 2,000,000 Class A Ordinary Shares.
Filing Stats: 789 words · 3 min read · ~3 pages · Grade level 13.7 · Accepted 2024-03-04 17:25:31
Key Financial Figures
- $6.50 — shares”), at a purchase price of $6.50 per share, for aggregate gross proceeds
- $13 million — gregate gross proceeds of approximately $13 million. Pursuant to the terms of the Underwrit
- $13.59 million — aggregate net proceeds of approximately $13.59 million to the Company, after deducting the und
Filing Documents
- ea0201056-6k_reeauto.htm (6-K) — 18KB
- ea0201056ex1-1_reeauto.htm (EX-1.1) — 196KB
- ea0201056ex5-1_reeauto.htm (EX-5.1) — 10KB
- ea0201056ex99-1_reeauto.htm (EX-99.1) — 14KB
- ex5-1_001.jpg (GRAPHIC) — 18KB
- 0001213900-24-019617.txt ( ) — 264KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. REE AUTOMOTIVE LTD. By: /s/ Avital Futterman Name: Avital Futterman Title: General Counsel Date: March 4, 2024 3