REE Automotive Registration Statement Related To Business Combination With 10X Capital Venture Acquisition Corp. Declared Effective By SEC
Special meeting of stockholders of 10X Capital Venture Acquisition Corp. scheduled for July 21, 2021
Upon closing, REE will be listed on NASDAQ under the new ticker symbol “REE”
The boards of directors of REE and 10X Capital Venture Acquisition Corp. have unanimously approved the Business Combination
REE Automotive (“REE”), a leader in e-Mobility, announced its Registration Statement on Form F-4 in connection with the previously announced business combination (the “Business Combination”) with 10X Capital Venture Acquisition Corp. (“10X”) (Nasdaq: VCVC), a publicly-listed special purpose acquisition company, has been declared effective by the Securities and Exchange Commission (the “SEC”). Upon closing, REE Class A ordinary shares and warrants will be listed on NASDAQ under the new ticker symbols “REE” and “REEAW.”
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The boards of directors of REE and 10X have unanimously approved the Business Combination, and 10X has set 11:00 a.m. ET on July 21, 2021 as the time and date for a special meeting of stockholders to approve the proposals associated with the Business Combination. The proxy statement/prospectus contains important information about REE, 10X and the Business Combination, and is available on: https://sec.report/CIK/0001843588. 10X stockholders of record as of June 2, 2021 will be mailed the proxy materials in connection with the Business Combination and will be entitled to vote at the special meeting.
“We are pleased to move to the last stage of completing the proposed business combination and bringing REE to the public markets,” said Hans Thomas, Chairman and Chief Executive Officer of 10X. “REE is ideally positioned to operate as a public company, and we expect that this transaction will enable REE to accelerate production of its REEcorner technology and modular EV platforms in 2023, with the first REEcornersTM expected to start to be delivered to customers in 2022. REE has continued to execute on its plan since our initial merger announcement, announcing strategic collaborations with industry leaders such as Magna International, Hino Motors (a subsidiary of Toyota Motor Corporation), American Axle and Navya. Given REE’s partners, its track record of execution, as well as its capex-light, asset-light global Integration Centers strategy, we believe that the successful completion of the proposed merger will enable REE to deliver on its vision of becoming the cornerstone of e-Mobility, with REEcorner technology and EV platforms powering electric and autonomous vehicles around the globe.”
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