Ree Automotive - REE STOCK NEWS

REE Automotive (Nasdaq: REE) has expanded its previously announced registered direct offering to $36.4 million, with an additional $9.4 million priced at $4.25 per share. The offering is led by strategic investors Motherson Group and M&G Investments, who maintained their ownership stakes.

The company will issue a total of 8,595,807 ordinary shares across both offerings. The additional funding strengthens REE's cash position as it prepares for vehicle deliveries against nearly $1 billion in reservations. The company recently announced a memorandum of understanding (MOU) that could generate up to $770 million in potential revenue through collaboration with a global technology company for software-defined vehicle technology integration.

The offering is expected to close around March 27, 2025, with A.G.P./Alliance Global Partners acting as the sole placement agent. The proceeds will be used for working capital and general corporate purposes.

REE Automotive (Nasdaq: REE) has announced a registered direct offering of 6,376,631 ordinary shares priced at $4.25 per share, expecting to raise gross proceeds of approximately $27 million. The offering involves both new institutional investors and existing strategic investors, including M&G Investments and Varana Capital.

The initial closing is scheduled for March 19, 2025. Additionally, Motherson Group, an existing shareholder and leading automotive supplier, has been invited to invest up to $10 million in a second closing by March 28, 2025, for a fully subscribed round. The company plans to utilize the net proceeds for working capital and general corporate purposes. A.G.P./Alliance Global Partners is serving as the sole placement agent for this offering.

REE Automotive (NASDAQ: REE) has signed a non-binding memorandum of understanding (MOU) with a leading global technology company for autonomous vehicle development. The collaboration aims to produce thousands of autonomous vehicles using REE's P7 platform by 2030, with production starting in 2027.

The strategic partnership, expected to be finalized by end of 2025, targets potential revenues of up to $770 million over five years, with software and services revenue beginning in H2 2025. REE will serve as the exclusive provider of software-defined vehicle technology in multiple global markets.

The collaboration will integrate REE's Federal Motor Vehicle Safety Standards certified P7 platform and its Unified Architecture (RUA), featuring ultra-high-performance System on Chip for vehicle dynamics, safety, and autonomy. The Powered by REE® software technology enables over-the-air updates, predictive maintenance, and reduced hardware complexity, offering a modular and cost-effective autonomous solution.

REE Automotive will showcase its P7-C software-defined electric truck at NTEA's Work Truck Week from March 4-7, 2025, at the Indiana Convention Center. Attendees can test drive the first U.S.-certified full-by-wire vehicle, which features REE's x-by-wire system providing digital control of all vehicle functions without mechanical connections.

The P7-C offers enhanced maneuverability with a tight turn radius, low step height, and independent control of each REEcorner®. REE recently received California's HVIP approval, unlocking up to $60,000 in incentives for California fleets transitioning to zero-emission vehicles.

Through collaboration with Geotab, REE aims to bring advanced data analytics to fleets using REEai Cloud, providing insights for predictive maintenance and reduced ownership costs. At the event, a P7-C with Wabash box and lift gate will be displayed at booth #1843, while a Knapheide stakebed version will be available for outdoor test drives.

REE Automotive (Nasdaq: REE) has announced a strategic collaboration with Geotab, a leading global telematics provider, to enhance fleet management capabilities for North American customers. The partnership integrates REEai Cloud with Geotab's network, allowing fleet operators to monitor REE's software-defined vehicles (SDVs) alongside other vehicles through Geotab's GO platform.

Through this integration, fleet operators will receive enhanced real-time data analytics and actionable insights to optimize fleet performance and reduce total cost of ownership. The collaboration leverages Geotab's expertise in capturing near real-time data through its plug-and-play platform, which processes essential metrics like speed and range.

The partnership aims to provide fleet operators with improved vehicle performance monitoring, seamless software updates, and advanced customization options. The integration is designed to work with existing fleet systems, offering in-depth analysis without adding complexity.

Mission Mobile Medical and REE Automotive (Nasdaq: REE) have signed an agreement for REE to provide electric trucks for mobile healthcare services in rural America. Mission Mobile has ordered REE's software-defined P7 electric trucks, with first delivery planned for mid-2025.

The collaboration aims to expand Mission Mobile's 200+ mobile healthcare programs that currently serve underserved communities across 42 states and Canada. The initiative targets more than two million Americans who lack equitable healthcare access.

The P7's unique zonal architecture and flat chassis will enable Mission Mobile to build customized medical facilities on the trucks. REE's x-by-wire system allows for over-the-air updates and provides fleet telematics data. The P7-C is the first U.S. certified fully by-wire vehicle, featuring REEcorners® that integrate critical vehicle components. Service support will be available through REE's national network of 80 service points.

REE Automotive (Nasdaq: REE), an automotive technology company specializing in full by-wire electric trucks and platforms, has announced its participation in the upcoming Sidoti Micro-Cap Virtual Conference on January 23, 2025.

CEO and co-founder Daniel Barel will deliver a live presentation from 8:30 to 9:00 a.m. ET on Track 1, focusing on REE's software-defined vehicle technology, market opportunities, and outlook for 2025 and beyond. CFO Hai Aviv will be available for one-on-one meetings with potential investors.

Interested participants can stream the presentation online through registration and schedule individual meetings either through the Sidoti online portal or by contacting Dana Rubenstein at danar@ree.auto.

REE Automotive (Nasdaq: REE), a provider of full by-wire electric trucks and platforms, has announced its participation in the 27th Annual Needham Growth Conference in New York City on January 14, 2025. The company's leadership team, including CEO and co-founder Daniel Barel, CFO Hai Aviv, and Chief Strategy Officer Dana Rubenstein, will engage in one-on-one meetings with institutional, private equity, and venture capital investors.

During these meetings, the team will discuss REE's software-defined vehicle (SDV) technology, market opportunities, and future objectives. Interested conference participants can schedule meetings through Dana Rubenstein. The company's participation aims to showcase its patented technology and unique value proposition in the e-mobility sector.

REE Automotive reported Q3 2024 results showing significant growth in reservations, which increased 230% to $137 million. The company began production of its P7 medium-duty electric truck, targeting first deliveries in H1 2025. Liquidity improved by 47% to $88.8 million in cash and equivalents compared to Q2 2024. The company secured funding of up to $65 million, including $33 million in credit facilities.

Q3 GAAP net loss was $38.5 million compared to $10.8 million in Q2 2024. Free cash flow burn narrowed by 15% year over year. The company's service network expanded to 80 locations across North America, and their demo program received positive feedback after 300+ demonstrations.