Feb 3 (Reuters) - 10X Capital Venture Acquisition Corp
:
* REE AUTOMOTIVE TO LIST ON NASDAQ THROUGH MERGER WITH 10X CAPITAL VENTURE ACQUISITION CORP
* 10X CAPITAL VENTURE ACQUISITION CORP - PRO FORMA EQUITY VALUE OF MERGER IS APPROXIMATELY $3.6 BILLION
* 10X CAPITAL VENTURE ACQUISITION CORP - TRANSACTION WILL ACCELERATE MASS PRODUCTION OF REECORNER TECHNOLOGY AND MODULAR EV PLATFORMS, EXPECTED TO BEGIN IN 2023
* 10X CAPITAL VENTURE ACQUISITION CORP - DEAL PRO FORMA ENTERPRISE VALUE OF $3.1 BILLION
* 10X CAPITAL VENTURE ACQUISITION CORP - FOLLOWING CLOSE, NASDAQ WILL LIST COMBINED COMPANY UNDER TICKER "REE".
* 10X CAPITAL VENTURE ACQUISITION CORP - TRANSACTION IS EXPECTED TO PROVIDE MORE THAN $500 MILLION OF GROSS PROCEEDS TO REE
* 10X CAPITAL VENTURE ACQUISITION CORP - PIPE OFFERING WAS MEANINGFULLY OVERSUBSCRIBED AND UPSIZED
* 10X CAPITAL VENTURE ACQUISITION CORP - ALL EXISTING SHAREHOLDERS AND INVESTORS WILL CONTINUE TO HOLD THEIR EQUITY OWNERSHIP
* 10X CAPITAL VENTURE ACQUISITION CORP - NET CASH FROM TRANSACTION WILL BE USED TO FUND GROWTH OF COMBINED COMPANY
* 10X CAPITAL VENTURE ACQUISITION CORP - CURRENT REE SHAREHOLDERS WILL REMAIN MAJORITY OWNERS OF COMBINED COMPANY AT CLOSING
* 10X CAPITAL VENTURE ACQUISITION - PROPOSED TRANSACTION WAS UNANIMOUSLY APPROVED BY REE'S BOARD OF DIRECTORS AS WELL AS 10X SPAC'S BOARD OF DIRECTORS
* 10X CAPITAL VENTURE - PIPE PARTICIPANTS INCLUDE KOCH STRATEGIC PLATFORMS, MAHINDRA & MAHINDRA & MAGNA INTERNATIONAL
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