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Heramba Electric and Project Energy Reimagined Acquisition Corp. (PERAC) announced a definitive business combination agreement. The combined company is expected to list on Nasdaq in Q1 2024 with a pro forma implied enterprise value of approximately $450 million.
Heramba Electric announced it had entered into a definitive agreement with subsidiaries of Knorr-Bremse to acquire Kiepe Electric, a leader in electrification of urban transportation. The acquisition is expected to close in Q4 2023.