REE Announces Strategic Agreement With Motherson, Raises $45M [Yahoo! Finance]
Dorman Products, Inc. (DORM)
Last dorman products, inc. earnings: 4/27 07:00 am
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Source: Yahoo! Finance
manufacturer of automotive components, have announced a strategic agreement. Under this contract, Motherson will handle the sourcing and supply chain management for production parts and assist REE in assembling REEcorner and REE P7 electric trucks, the first fully by-wire, software-driven medium-duty electric trucks, on the market. Additionally, Motherson will nominate a director to join REE's board. In conjunction with this contract, REE has secured agreements with investors, including M&G Investments, Motherson and Varana Capital, for the sale of approximately 11 million Class A ordinary shares at $4.122 per share for $45.35 million in gross proceeds. The funds will be used for general working capital and the offering is expected to close by Sept. 19, 2024, pending customary conditions. M&G Investments led the investment with $20 million, followed by Motherson's $15 million contribution. Upon closing, M&G will own around 16% of REE's outstanding shares, Motherson will hold 19% o
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DORM
News
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- Dorman Products (DORM) Upgraded to Strong Buy: Here's What You Should Know [Yahoo! Finance]Yahoo! Finance
- Dorman Products, Inc. (DORM) Hits Fresh High: Is There Still Room to Run? [Yahoo! Finance]Yahoo! Finance
DORM
Earnings
- 10/31/24 - Beat
DORM
Sec Filings
- 11/21/24 - Form 144
- 11/19/24 - Form 4
- 11/15/24 - Form 144
- DORM's page on the SEC website