REE Automotive raises USD14.95m from public offering of ordinary shares
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By Bradley Osborne - 28th March 2024
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.
