9:56 AM PT -- Yella Beezy's lawyers, Toby Shock and John F. Gussio, are now speaking out about the case, telling TMZ ... they attended a court hearing today with Yella and, during the proceeding, the prosecutor entered the shooting video into evidence and introduced a couple of new arrest affidavits for codefendants. The prosecutors also asked the court to allow a witness to testify that Yella was one of the key people who allegedly supplied money to the accused shooter, Kewon White, to do the hit on Mo3.

The attorneys also said they were "gratified" the judge lowered Yella's bail to $750,000 from $2 million, citing a lack of evidence against him and other factors. They summed it up by saying ... "We look forward to fighting the case in court — Yella denies the charges."

Video of rapper Mo3's shooting death is surfacing for the first time ... and you see him being chased down in broad daylight by a hitman.

Prosecutors in Texas just released footage of Mo3's November 2020 killing, and the video picks up with Mo3 stopping his car in the middle of Interstate 35 in Dallas ... getting out of his ride and running for his life.

The masked gunman stops his car a few yards in front of Mo3 ... and with traffic whizzing by, both men get out and start running down I-35.

You see the gunman's firearm in his hands after he chases Mo3 ... the shooting happens out of frame, but the unidentified hitman is seen running back to his car ... with no sign of Mo3 going back to his.

The video lines up with what we first reported ... that Mo3 was being tailed and a car chase ensued that ended with him desperately trying to evade his killer.

Prosecutors showed the video in court this week as they argued to keep rapper Yella Beezy in custody.