Ree automotive ltd. updates that it has received nasdaq notification regarding minimum bid price requirement

Tel-aviv, israel, nov. 10, 2022 (globe newswire) -- ree automotive ltd. (nasdaq: ree) (“ree” or the “company”), an automotive technology company and provider of electric vehicle platforms, received a notification on november 7, 2022 from the nasdaq stock market (“nasdaq”) notifying the company that it no longer satisfies nasdaq listing rule 5450(a)(1) because for the past 30 consecutive business days preceding the date of the notification (“notice”), the bid price per share of the company's class a ordinary shares, without par value (“ordinary shares”) had closed below the $1.00 per share minimum bid price required for continued listing on nasdaq (the “minimum bid price requirement”).
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