Electra Vehicles to Merge With Iron Horse Acquisition II to Form Public AI Battery Intelligence Company
April 21, 2026
Electra Vehicles, Inc. agreed to merge with SPAC Iron Horse Acquisition II Corp. in a definitive business combination valued at $250 million+ to create a publicly traded pure-play AI battery intelligence company. The combined company is expected to operate as Electra AI, Inc. and remain listed on Nasdaq, with closing anticipated in the second half of 2026 subject to customary approvals and conditions.
- Buyers
- Electra Vehicles, Inc., Iron Horse Acquisition II Corp.
- Targets
- Electra Vehicles, Inc., Iron Horse Acquisition II Corp.
- Industry
- AI & Machine Learning
- Location
- Massachusetts, United States
- Transaction Type
- Buyout
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