Examples of REE Class A Ordinary Shares in a sentence
REE intends to apply for listing of the REE Class A Ordinary Shares and REE Warrants on Nasdaq under the proposed symbols “REE” and “REEAW,” respectively, to be effective upon consummation of the Merger.
A total of 42,703,234 REE Class A Ordinary Shares were issued to holders of 10X Capital Class A Common Stock, including those issued pursuant to the PIPE Financing as described below.
The value of REE Class A Ordinary Shares is reflected at $10 per share, assumes the exercise of all options and warrants and the consummation of the expected Stock Split immediately prior to the Effective Time assuming a forward stock split ratio of 1:26.71, based on the Conversion Ratio as defined in the Merger Agreement.
In addition, immediately prior to the Effective Time, (i) all outstanding 10X Capital Class B Common Stock will be converted into 10X Capital Class A Common Stock, (ii) all outstanding 10X Capital Class A Common Stock will be converted into shares of REE Class A Ordinary Shares, (iii) and all outstanding warrants to purchase shares of 10X Capital Class A Common Stock will be converted into the right to receive an equal number of warrants to purchase one REE Class A Ordinary Share.
The REE Class B Ordinary Shares will have 10 votes per share, while the REE Class A Ordinary Shares have one vote per share.
The value of REE Class A Ordinary Shares is reflected at $10 per share, assumes the exercise of all options and warrants and the consummation of the expected Stock Split assuming a forward stock split ratio of 1:26.71, based on the Conversion Ratio as defined in the Merger Agreement.
The only rights that are attached to the REE Class B Ordinary Shares issued to each of the Founders are the right to 10 votes per share.Each Founder’s economic rights/interests will be represented via REE Class A Ordinary Shares that will be held by such Founder (including REE Class A Ordinary Shares underlying options of such Founder).
REE intends to apply for listing of the REE Class A Ordinary Shares and REE Warrants on Nasdaq under the proposed symbols “REE” and “REEAW,” respectively, to be effective at the consummation of the Merger.
Accordingly, we are registering up to an aggregate of 28,056,250 REE Class A Ordinary Shares, 15,562,500 REE warrants, and 15,562,500 REE Class A Ordinary Shares issuable upon the exercise of the warrants.
In addition, all of the REE Class B Ordinary Shares will automatically be suspended upon transfer to a non-permitted transferee or the tenth anniversary of the closing of the Merger (the “Closing”).The registration statement of which this proxy statement/prospectus is a part covers the REE Class A Ordinary Shares and REE Warrants issuable to the securityholders of 10X Capital as described above.