The SEC declared effective REE Automotive’s F-4 in connection with the proposed business combination with 10X Capital Venture Acquisition. The SPAC’s stockholders are scheduled to vote on the deal July 21. The combined company is valued at $3.1 billion.
The transaction is expected to provide the EV startup with 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.
If shareholders approve the deal, upon closing REE Class A ordinary shares and warrants will list on the Nasdaq under REE and REEAW. Read more.