<div>
  <ul>
    <li>
      <p>
        REE Automotive (REE), an Israeli company developing customizable four-wheel electric self-driving chassis platforms, has raised USD 14.95 million through a public offering of 2,300,000 Class A ordinary shares at USD USD 6.50 per share. M&amp;G Investment Management Limited led the funding round.
      </p>
    </li>
    <li>
      <p>
        The company intends to use the funds for working capital and general corporate purposes. Funds will also be allocated toward ongoing product development and commercialization.
      </p>
    </li>
    <li>
      <p>
        <b>Analyst QuickTake: </b>
        The company announced the public offering 
        <a href="https://sp-edge.com/updates/27178">
          earlier this month,
        </a>
         planning to raise USD 13 million, with additional shares to cover over-allotments. REE Automotive's successful public offering, surpassing its initial target, not only bolsters its financial standing but also signifies investor confidence in its innovative electric vehicle technology.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://www.globenewswire.com/news-release/2024/03/06/2841342/0/en/REE-Announces-Closing-of-Public-Offering-of-Ordinary-Shares.html">
      Press release
    </a>
  </p>
</div>


Truck Industry Tech

ANALYST_QUICK_TAKE

<div>
 <p>REE Automotive (REE), an Israeli firm that designs custom four-wheel electric self-driving chassis platforms, has garnered USD 14.95 million via a public offering of 2,300,000 Class A ordinary shares priced at USD 6.50 per share. The funding round was spearheaded by M&amp;G Investment Management Limited.</p>
 <p>REE plans to utilize the invested capital for working expenses and general corporate activities. A portion of the funds will also be directed for continuous product evolution and commercial penetration.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> The company announced the public offering <a href="https:<br>
//sp-edge.com/updates/27178"> earlier this month, </a> planning to raise USD 13 million, with additional shares to cover over-allotments. REE Automotive's successful public offering, surpassing its initial target, not only bolsters its financial standing but also signifies investor confidence in its innovative electric vehicle technology.</p>

REE Automotive raises USD 14.95 million in public offering funding

Automation and robotics are finally creating solutions for the complexities of doorstep deliveries.

Last-mile Delivery Automation

<div>
 <p>REE Automotive, an Israeli firm developing customizable electric self-driving chassis platforms, has garnered USD 14.95 million through a public offering. A total of 2,300,000 Class A ordinary shares were offered at USD 6.50 per share, with M&amp;G Investment Management Limited leading the funding round.</p>
 <p>The raised capital is intended for general corporate purposes and to serve as working capital. A specific portion will be directed towards product development and commercialization.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> The company announced the public offering <a href="https:<br>
//sp-edge.com/updates/27178"> earlier this month, </a> planning to raise USD 13 million, with additional shares to cover over-allotments. REE Automotive's successful public offering, surpassing its initial target, not only bolsters its financial standing but also signifies investor confidence in its innovative electric vehicle technology.</p>

<div>
 <p>REE Automotive, an Israeli electric self-driving chassis platforms developer, has announced a public offer of 2 million Class A shares at USD 6.50 per share, aiming to raise USD 13 million. Roth Capital Partners is the underwriter and has an optional grant for an additional 300,000 shares for over-allotments. The offering is projected to end by March 5, 2024.</p>
 <p>The company plans to utilize the raised funds for working capital, general corporate purposes including product development and commercialization.</p>
 
</div>

REE Automotive to raise USD 13 million in public funding

<div>
 <p>Israeli firm REE Automotive, specializing in customizable electric self-driving chassis platforms, has revealed plans for a public offering of 2 million Class A ordinary shares at USD 6.50 per share, aiming to generate USD 13 million. The underwriter for the operation is Roth Capital Partners, with potential for an extra 300,000 shares on offer to cover over-allotments. The transaction is due to be completed by March 5, 2024.</p>
 <p>REE Automotive plans to employ the raised capital for general corporate requirements and working capital. This encompasses product development and commercial launch.</p>
</div>

PROMINENT_CATEGORY

<div>
 <p>Israeli firm REE Automotive has begun deliveries of its P7-C electric chassis cab, a customizable, self-driving electric platform. It is the first truck of its kind to gain approval from the US Federal Motor Vehicle Safety Standards and Environmental Protection Agency, qualifying it for a USD 40,000 tax credit per vehicle. The P7-C features by-wire controls, improving maneuverability, efficiency, and truck serviceability. Other features include fail operational designs for enhanced safety, improved ergonomics, and a driver-centric cabin.</p>
</div> <p><b>Analyst QuickTake:</b> The P7-C chassis cab was unveiled to the public in <a href="https://www.globenewswire.com/en/news-release/2023/05/02/2658885/0/en/REE-Automotive-Unveils-P7-C-Chassis-Cab-a-New-Addition-to-its-P7-Electric-Truck-Lineup-on-Track-for-Deliveries-in-Q4-2023-Dealer-Network-Expands.html"> May 2023 </a> as an addition to the Ree Automotive's P7 Electric Truck Lineup. It was designed to meet requirements of the Inflation Reduction Act incentives and features the company's proprietary REEcorner technology.</p>

REE Automotive initiates delivery of its P7-C electric chassis cab

Israeli company REE Automotive has reported securing new orders for its customizable four-wheel electric self-driving chassis platforms. The company's order book for its P7 electric truck lineup now stands at 155 vehicles, up from 100 reservations in May 2023. REE has obtained certification-feasibility for its x-by-wire systems, an important step towards achieving certifications from various regulatory bodies. The company plans to start customer deliveries by the end of the year and aims for cumulative sales of $1 billion between 2024 and 2026. Production plans include up to 300 vehicles in 2024, scaling to mid-thousands by 2026, with assembly being outsourced to a US contract manufacturer to minimize capital expenditure.

REE Automotive Q2 2023 update: On track to clear regulatory hurdles; plans deliveries by end-2023

REE Automotive has reported their Q2 2023 results, revealing an increase in orders for their P7 electric truck lineup, bringing the total to 155 vehicles. The company has obtained certification-feasibility for its x-by-wire systems, as it takes steps towards certifying its electric truck lineup for various safety and environmental standards. REE Automotive plans to start customer deliveries by the end of the year and aims to achieve $1 billion in cumulative sales between 2024 and 2026. To support this growth, the company intends to scale production from 300 vehicles in 2024 to mid-thousands in 2026, using a US contract manufacturer to reduce capital expenditure.

REE Automotive has entered into a partnership with Knapheide to develop full electric vehicle (EV) solutions. Knapheide will design work truck bodies for REE's four-wheel self-driving electric chassis platforms, specifically for their P7-C chassis cabs. This collaboration aims to provide a variety of EV options within Classes 3-5, including box trucks, service bodies, and platform bodies. The units can be ordered now, and deliveries are planned for 2024.

All Updates

REE Automotive raises USD 14.95 million in public offering funding

REE Automotive raises USD 14.95 million in public offering funding

REE Automotive to raise USD 13 million in public funding

REE Automotive to raise USD 13 million in public funding

REE Automotive initiates delivery of its P7-C electric chassis cab

REE Automotive Q2 2023 update: On track to clear regulatory hurdles; plans deliveries by end-2023

REE Automotive Q2 2023 update: On track to clear regulatory hurdles; plans deliveries by end-2023

REE Automotive partners with Knapheide to develop comprehensive electric vehicle solutions

REE Automotive on track to commence vehicle deliveries; expands dealer network and unveils production roadmap

REE Automotive on track to commence vehicle deliveries; expands dealer network and unveils production roadmap