Latham Advises Heramba Electric in Business Combination With Project Energy Reimagined Acquisition Corp.

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, have announced that they have entered into a definitive agreement 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. Heramba Electric previously announced 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. Upon closing of the Business Combination, the combined company’s securities are expected to be listed on Nasdaq.

Latham & Watkins LLP represented Heramba Electric in the transaction with a corporate deal team led by Houston partners Nick Dhesi and Ryan Maierson and Frankfurt/Hamburg partner Nils Röver, with associates Clayton Heery, Ziyad Barghouthy, Vera Bespalova, Melanie von Staa Toledo, and Chris Freitag. Advice was also provided on finance matters by Houston partner Matthew Jones, with associates Chris Wood and Brian Flynn; on tax matters by Washington, D.C. partner Nicholas DeNovio, Houston partner Jared Grimley, and Hamburg partner Tobias Klass, with associates Shruti Hazra and Julia Wenzel; on employee benefits and compensation matters by Los Angeles partner Michelle L.C. Carpenter, Houston counsel Krisa Benskin, and Munich counsel Florian Dehmel, with associate Christina Schrantz; on environmental matters by Los Angeles partner Joshua Marnitz and Frankfurt counsel Joachim Grittmann, with associate Jacqueline Zhang; on intellectual property matters by New York partner Jeffrey Tochner and Frankfurt partner Susan Kempe-Mueller, with associates Pelin Serpin, Dewey Kang, Ece Gonulal, and Daniela Jaeger; on data privacy matters by London partner Gail Crawford and Houston counsel Robert Brown, with associates Dalyn Dessaure, Irina Vasile, Calum Docherty, and Kate Burrell; on regulatory matters by London partner Nathan Seltzer, Washington, D.C. partner Jason Cruise, and Frankfurt partner Max Hauser, with associates Christopher Rydberg, Jay Winkelman, and Markus Welzenbach. Matheson LLP and Smith, Gambrell & Russell, LLP are also acting as legal counsels to Heramba Electric.