Company: REE
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001628280-25-025661
Chunk: 99

Company: REE Automotive Ltd.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 5
Chunk 99
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 its ability to continue its business operations and/or lose control of its business to a creditor.”

March 26, 2025 Securities Purchase Agreements & Lock-up Agreement

On March 26, 2025, we entered into a securities purchase agreement with certain institutional and accredited investors, providing for the issuance of an aggregate of 2,219,176 Class A Ordinary Shares at a purchase price of $4.25 per ordinary share, or the March 26 Offering. The offering closed on March 27, 2025 and resulted in gross proceeds to the Company of approximately $9.4 million, which, after the deduction of fees and expenses, we intend to use the net proceeds for working capital and general corporate purposes.

In addition, each of the directors and executive officers of the Company entered into a lock-up agreement, pursuant to which they agreed not to sell or transfer any of the Company securities which they hold, subject to certain customary exceptions, until May 18, 2025. Additionally, the Company agreed until May 18, 2025 it will not: (i) issue, enter into any agreement to issue or announce the issuance or proposed issuance of any ordinary shares or equivalent securities; or (ii) file any registration statement or amendment or supplement thereto (other than on Form S-8 or in connection with any employee benefit plan). In addition, the Company agreed that it will not conduct any sales of ordinary shares or equivalent securities involving a variable rate transaction (as defined in the purchase agreement) until September 19, 2025, subject to certain exceptions as described in the Purchase Agreement.

Table of C ontents

On March 26, 2025, the Company also entered into a placement agency agreement, or the March 26 Agreement, with A. G. P./Alliance Global Partners, or A. G. P. or the Placement Agent, pursuant to which the Company engaged A. G. P. as the exclusive placement agent in connection with the offering. The Placement Agent agreed to use its best efforts to arrange for the sale of the Class A Ordinary Shares. In addition, pursuant to the terms of the March 26 Agreement, the Company will pay the Placement Agent a placement agent fee in cash equal to two percent (2%) of the aggregate gross proceeds raised in the offering. The Company also agreed to reimburse the Placement Agent at closing for legal and other accountable expenses incurred by them in connection with the offering in an aggregate amount not to exceed $10,000.

March 18,