ReeAutoOfficial seeks court protection after collapsing from $3.1 billion SPAC valuation. Israeli EV startup that once rode investor hype now faces $17 million debt restructuring.

Ree Automotive, an Israeli electric vehicle startup, is seeking court protection after experiencing a significant decline from a $3. 1 billion SPAC valuation.

The company is now facing $17 million in debt restructuring as it navigates its financial challenges.