Project Energy Reimagined Acquisition Corp. (PEGRU) Prices $250M IPO


Project Energy Reimagined Acquisition Corp. (PEGRU) Prices $250M IPO

Oct 28, 2021 IPOs by Marlena Haddad

Project Energy Reimagined Acquisition Corp. announced the pricing of its $250 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “PEGRU” Friday, October 29.

The new SPAC intends to focus its search on high-potential ESG targets within the advanced renewable energy “Grid 2.0” value-chain, including targets focused on grid reliability and stability solutions, electrification of transportation and electric vehicle infrastructure, smart and/or AI-enabled grid optimization, energy storage, second-life use of batteries and end of life battery recycling.  Project Energy Reimagined is led by CEO Srinath Narayana, President Sanjay Mehta, Chairman Michael Browning, COO David Roberts, CFO Prakash Ramachandran, Head of Business Strategy Tim Dummer and Head of Technology Strategy Kathy Liu.

Total SPAC deal count for 2021 year-to-date is now 502. This offering is expected to close on Tuesday, November 2.

J.P. Morgan Securities LLC and BofA Securities are acting as joint book-running managers for the offering. Winston & Strawn LLP is serving as Issuer’s Counsel with Davis Polk & Wardwell LLP serving as Underwriter’s Counsel.  Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.