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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