Mergers & Acquisitions ·
Electra Vehicles rebrands as ELECTRA AI in $250M merger with Iron Horse Acquisition II
IRHOIron Horse Acquisition II Corp.
Iron Horse Acquisition II Corp. filed a Form 8-K to disclose a press release recapping milestones achieved since entering into a definitive Business Combination Agreement with Electra Vehicles, Inc., now rebranded as ELECTRA AI, on April 21, 2026. The transaction values the combined entity at over $250 million and is expected to close in the second half of 2026, subject to shareholder approval and SEC registration. Since signing, Electra has secured commercial deployments with Mooving, Omega Seiki Mobility, and Propel Industries, while establishing partnerships for grid-scale storage, post-quantum cybersecurity, and space applications. The companies have filed a Form S-4 registration statement, and the combined company is anticipated to trade on Nasdaq under the ticker symbol "AIBR." Iron Horse Acquisition II Corp. operates as a special purpose acquisition company focused on mergers with AI, media, and technology businesses.