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REE Automotive Launches Public Offering To Offer And Sell Its Class A Ordinary Shares; No Terms Disclosed

Author: Benzinga Newsdesk | February 29, 2024 06:24pm

The Company expects to grant the underwriter a 20-day option to purchase up to an additional 15% of the number of ordinary shares sold in the offering to cover over-allotments, if any. M&G Investment Management Limited has indicated an interest in purchasing ordinary shares in the offering at the public offering price.  REE intends to use the net proceeds from the offering primarily for working capital and general corporate purposes, including continued product development and commercialization.

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