Financing ·
REE Automotive secures $4M equity commitment for proposed Israeli debt restructuring
REEREE Automotive Ltd.
REE Automotive entered into an equity commitment letter with investors Kukac LLC and Elljay Limited, who agreed to invest an aggregate of $4 million in the company. The funding supports a proposed debt restructuring under Israeli insolvency law that includes converting existing debts into equity, canceling current shares without consideration, and allocating up to $3 million from available cash for creditor distributions. A contingent value right of up to $3 million is also granted upon a qualifying exit transaction by September 2029. The Tel Aviv-Jaffa District Court authorized creditors' meetings scheduled for October 25, 2026, to vote on the arrangement. REE Automotive develops software-defined vehicle technology and electronic control systems.