5 years after itemizing on Nasdaq via a SPAC merger at a market cap of $3.1 billion, Israeli auto-tech firm REE Automotive (Nasdaq: REE) reached the tip of the highway final week, not less than as a publicly traded firm, with a Nasdaq delisting discover. The corporate presently has a market cap of simply $6.11 million.
The corporate has additionally filed a request with the Tel Aviv District Court docket for a keep of proceedings, whereas on the identical time, announing that Nasdaq administration knowledgeable it that because of non-compliance with the buying and selling situations, its shares could be delisted from buying and selling on July 7. The corporate has the choice to attraction Nasdaq’s choice, however has no plans to take action. The explanation for the delisting is a share worth that has been beneath $1 over time.
Within the firm’s request to the court docket, via attorneys Herzog Fox Neeman, REE asks for a brief keep of proceedings throughout which its operations will proceed as a going concern, to be able to formulate and approve a debt settlement. The corporate will appoint Adv. Amit Pines from FBC to handle the debt settlement.
REE’s request states that it’s growing groundbreaking applied sciences for modular platforms and digital management programs for electrical business automobiles. “Given a collection of exogenous elements, the corporate has discovered itself in a extreme money circulation disaster and in a state of money circulation insolvency as a result of lack of sources of financing to proceed its operations,” it mentioned. “On the identical time, this can be a firm with distinctive and groundbreaking know-how that holds worthwhile mental property, a world repute and a talented staff, which is worthy and proper to behave for its financial rehabilitation.”
REE’s money owed to workers quantity to NIS 12.2 million, based on the request, and to basic collectors – NIS 39.3 million. The corporate explains the explanations for its scenario with a mixture of enterprise, monetary and macroeconomic elements, together with an investment-intensive enterprise mannequin, US tariff coverage, a transition to a software-based and licensing mannequin, a deterioration in its capacity to boost capital, geopolitical difficulties (together with Israel’s current wars), and extra.
Printed by Globes, Israel enterprise information – en.globes.co.il – on July 5, 2026.
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