REE Automotive raises USD14.95m from public offering of ordinary shares
By Bradley Osborne - 28th March 2024
![REE Automotive raises USD14.95m from public offering of ordinary shares](/media/4361/Interior-of-the-P7-C-cab-by-REE-Automotive.jpg?w=680&h=450&fit=crop)
Interior of the P7-C cab by REE Automotive
Israel – REE Automotive Ltd, an electric vehicle developer based in Herzliya, Israel, has announced that it has raised USD14.95m for investment in its product development and commercialisation, following the closure of a public offering of its ordinary shares.
2,300,000 Class A ordinary shares were sold during the underwritten public offering, which closed on 6 March, at a price of USD6.50 per share. The public offering was led by M&G plc, an investment management firm based in London, UK and REE’s largest shareholder.