Mergers & Acquisitions ·
Electra Vehicles agrees to merge with Iron Horse Acquisition II Corp. in a proposed $250 million pre-money business combination
IRHOIron Horse Acquisition II Corp.
Iron Horse Acquisition II Corp. filed an 8-K disclosing that Electra Vehicles, Inc. released a newsletter and investor presentation regarding their ongoing merger discussions. The companies have filed a registration statement on Form S-4 with the SEC to facilitate the proposed business combination, which will be submitted to Iron Horse shareholders for approval via a definitive proxy statement. The transaction values Electra at $250 million pre-money equity value, with no PIPE financing committed as of the filing date. Iron Horse Acquisition II Corp. operates as a blank check company (SPAC) focused on effecting a merger or acquisition.