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Heramba Electric plc Announces Receipt of Notice from Nasdaq Regarding the Minimum Bid Price Requirement

1. Heramba acquired majority equity in Kiepe GmbH and Kiepe US. 2. This acquisition strengthens Heramba's position in the electric vehicle sector.

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FAQ

Why Bullish?

Heramba's acquisition of key assets enhances growth potential in the electric vehicle market, similar to past examples where successful mergers boosted stock prices significantly.

How important is it?

The acquisition paves the way for innovation and broader market reach, highly relevant since electric vehicle growth is pivotal.

Why Long Term?

The full integration of Kiepe's assets will take time to materialize into financials, similar to historic strategies where market penetration post-acquisition resulted in sustained growth.

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KBHERBPEAC
DUSSELDORF, GERMANY AND ATLANTA, GA / ACCESS Newswire / March 17, 2025 / As previously disclosed, and pursuant to the terms and conditions set forth in the Share Purchase Agreement, dated as of July 25 and 26, 2023, by and among Heramba GmbH ("Heramba"), Heramba Holdings, Inc. ("Heramba Holdings"), Knorr-Bremse Systeme für Schienenfahrzeuge GmbH ("KB GmbH") and Knorr-Brake Holding Corporation ("KB US"), as amended pursuant to the Amendment Agreement to Share Purchase Agreement, dated as of January 31, 2024, on February 6, 2024, (i) KB GmbH, as sole shareholder of Kiepe Electric GmbH, sold and transferred 85% of the equity interests in Kiepe GmbH, as well as certain receivables and shareholder loans, to Heramba, and (ii) KB US, as the sole member of Kiepe Electric LLC ("Kiepe US" and together with Kiepe GmbH, "Kiepe"), sold and transferred all ownership interests in Kiepe US, as well as certain receivables, to Heramba Holdings. As previously disclosed, and pursuant to the terms and conditions set forth in the Business Combination Agreement, dated as of October 2, 2023, by and among Project Energy Reimagined Acquisition Corp., Heramba Electric plc, Heramba Merger Corp., Heramba Limited and Heramba, effective as of July 26, 2024, the business combination contemplated by the Business Combination Agreement was consummated resulting in, among other matters, each of Heramba, Heramba Holdings, Kiepe GmbH and Kiepe US becoming direct or indirect subsidiaries of the Company.

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