With debts of 51 million shekels - the autotech company that was saved from liquidation

The Tel Aviv District Court approved a debt settlement for the autotech company REE, which accumulated debts of 51 million shekels. The arrangement includes a capital injection of $4 million and the conversion of debts into shares, aiming to allow the company to continue operating.

The Tel Aviv District Court approved a debt settlement for the autotech company REE, which accumulated debts of 51 million shekels. The arrangement includes a working capital injection of $4 million from two investors, Kukac LLC and Ellj Limited, and the conversion of debts totaling 20 million shekels into shares. The company's CEO, Daniel Barel, and COO Achishai Sardes will also convert personal debts into shares. REE reached Wall Street with a valuation of $3.1 billion about five years ago, but was delisted from Nasdaq after failing to meet trading requirements. The company reduced its workforce in Israel from 270 employees to just 31. In 2025, it recorded revenues of $1.3 million and a loss of $55.8 million. Judge Hagai Brenner noted that the settlement aims to preserve the company as a going concern. Suppliers are expected to recover about 21% of their debt.