Financing ·
REE Automotive secures $4M equity commitment to support proposed debt restructuring under Israeli insolvency law
REEREE Automotive Ltd.
REE Automotive entered into an equity commitment letter with Kukac LLC and Elljay Limited for a combined $4 million investment, split as $2 million from each investor. This capital is intended to provide working capital to support the company's continued operations during its proposed debt restructuring under the Israeli Insolvency and Economic Rehabilitation Law. The Tel Aviv-Jaffa District Court approved the creditors' arrangement on October 28, 2026, following creditor meetings held on October 25. The restructuring aims to facilitate the company's operation as a private entity on a going concern basis, subject to specific conditions and amendments outlined in the court judgment. REE Automotive Ltd. designs and manufactures electric vehicle powertrain systems.