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Court Approves Debt Restructuring for REE Automotive
An Israeli automotive technology firm, REE Automotive, has received judicial approval for a debt settlement plan. The company, which previously achieved a multi-billion dollar valuation upon its Nasdaq debut, currently faces significant financial obligations. The court's decision addresses outstanding debts amounting to 51 million NIS. This restructuring is a critical step for the company as it navigates its current status on the OTC market.