REE Automotive today filed a preliminary proxy in connection with the company’s proposed sale to 10x Capital Venture Acquisition. REE is an EV tech startup.
The companies announced a deal last month that would provide REE more than $500 million of gross proceeds. This includes funds from a fully committed $300 million PIPE with participation from long-term strategic investors including Koch Strategic Platforms, Mahindra & Mahindra and Magna International.
Pending shareholder approvals, the combined company would list on the Nasdaq under REE. The transaction is expected to close in the second quarter. Read more.
