Project Energy Reimagined Acquisition Corp. (PEGR)

Menlo Park, California, June 28, 2024 (GLOBE NEWSWIRE) -- Project Energy Reimagined Acquisition Corp. (Nasdaq: PEGR) (“PERAC”) today announced that its proposed business combination (the “Business Combination”) pursuant to the Business Combination Agreement, dated as of October 2, 2023 (the “Business Combination Agreement”), by and among PERAC, Heramba Electric plc (“Holdco”), Heramba Merger Corp., Heramba Limited and Heramba GmbH (“Heramba”), is anticipated to close in early July 2024, subject to the satisfaction or waiver of all applicable closing conditions.

Menlo Park, California, June 05, 2024 (GLOBE NEWSWIRE) -- Project Energy Reimagined Acquisition Corp. (Nasdaq: PEGR) (the “Company”) today announced that it received a notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Rule”) due to a delay in filing its Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2024 (the “Form 10-Q”) with the Securities and Exchange Commission (the “SEC”). The Rule requires listed companies to timely file all required periodic financial reports with the SEC. The Notice is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of the Company's securities on the Nasdaq Global Market.

Heramba Electric announced in August 2023 that it had entered into a definitive agreement with subsidiaries of Knorr-Bremse Aktiengesellschaft to acquire Kiepe Electric, a company focused on decarbonization of commercial and public transportation, which is expected to close in the fourth quarter of 2023 With the Kiepe acquisition, Heramba Electric intends to create a pure-play global leader in sustainable urban transportation and further accelerate the expansion of urban transportation addressable market globally Kiepe Electric is a global leader in the electrification of road and rail urban transportation applications, including designing, manufacturing and implementing power electronics products, electric drives and vehicle controls hardware and intelligent software for fleet management and energy management Kiepe Electric has over 500 employees operating in six countries around the world and, in 2022, had revenues in excess of $120 million Project Energy Reimagined Acquisition Corp. is backed by an affiliate of Smilodon Capital, LLC and brings together experts from the advanced transportation, electrification and cleantech industries and those with strong track records of executive leadership and successful M&A deals across the technology, transportation, and energy sectors Project Energy Reimagined Acquisition Corp. has approximately $113 million in trust The proposed business combination of Heramba Electric and Project Energy Reimagined Acquisition Corp. is expected to close in the first quarter of 2024, with the combined company's securities expected to be listed on Nasdaq Pro forma implied enterprise value of the combined company is approximately $450 million MENLO PARK, Calif. and BERLIN , Oct. 3, 2023 /PRNewswire/ -- Heramba GmbH ("Heramba Electric" or the "Company"), a special-purpose company focused on investing in companies with technologies and capabilities that can accelerate the decarbonization of commercial transportation, and Project Energy Reimagined Acquisition Corp. (Nasdaq: PEGR) ("PERAC"), a special purpose acquisition company, today announced that they have entered into a definitive agreement, dated September 29, 2023, for a proposed business combination (the "Business Combination"), which values the combined company at a pro forma implied enterprise value of approximately US$450 million.

MENLO PARK, Calif. , Aug. 24, 2023 /PRNewswire/ -- Project Energy Reimagined Acquisition Corp. (Nasdaq: PEGR) (the "Company") today announced that it received a notice (the "Notice") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the "Rule") due to a delay in filing its Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2023 (the "Form 10-Q") with the Securities and Exchange Commission (the "SEC").