REE Automotive to Combine With 10X Capital Venture in $500M Deal

10X Capital Venture Acquisition Corp

REE Automotive and 10X Capital Venture Acquisition announced today they have entered into a merger agreement for a business combination that would result in REE becoming a publicly listed company trading on the Nasdaq under REE.

The transaction is expected to 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.

REE is an electric vehicle technology startup. Read more.

Total
0
Shares
Related Posts