REE Automotive Ltd. (REE) Form 6-K — Oct 23, 2026
REE Automotive entered an equity commitment letter on October 19, 2026 with Kukac LLC and Elljay Limited, who would invest $4 million total ($2 million each) to fund working capital as part of a proposed debt restructuring under the Israeli Insolvency and Economic Rehabilitation Law. Under the restructuring, all existing shares, options, warrants and convertible securities would be cancelled with no consideration to current holders. Post-closing, the Investors would own 60%, CEO Daniel Barel 19%, CTO Ahishay Sardes 10%, and eligible convertible noteholders 11%, with the company becoming private and delisting from NASDAQ.
Key figures
- Debt Amount
- $4 million equity commitment ($2 million each from Kukac LLC and Elljay Limited)
- Esop pool
- up to 13.5% plus 1% upon exit over $50M
- Cvr max usd
- 3000000
- Stay expiry
- October 30, 2026
- Long stop date
- November 15, 2026
- Closing deadline
- November 15, 2026
- Cvr exit thresholds
- ["$2M if exit proceeds exceed $50M","additional $1M if exit proceeds exceed $150M"]
- Creditors meeting date
- October 25, 2026
- Total claimed debt nis
- 55731457
- Arrangement fund cap usd
- 3000000
- Company estimated debt nis
- 46241631
- Ordinary creditor distribution rate
- 21.49% cash component; up to 70%-94.15% upon qualifying exit
- Liquidation recovery rate ordinary creditors
- 0.642%-2.013%
AI analysis
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