Latham Advises Electra Vehicles on De‑SPAC Transaction With Iron Horse Acquisition II Corp.

Latham & Watkins has advised Electra Vehicles, Inc. (Electra), a pioneer in AI battery intelligence, on the business combination with Iron Horse Acquisition II Corp. (Iron Horse), a special purpose acquisition company (Nasdaq: IRHO).

Under the terms of the merger agreement, Electra will merge with Iron Horse, creating the world’s first publicly traded pure‑play AI battery intelligence company. The deal is valued at over US$250 million and includes earn‑out targets. Upon closing, which is anticipated in the second half of 2026, the combined company will operate as ELECTRA AI, Inc. and is expected to be listed on Nasdaq.

The Latham team was led by Los Angeles partners Steven Stokdyk and Brian Duff, with Los Angeles Capital Markets associate Will Coughlin and San Diego Mergers & Acquisitions associate Madeleine West. Advice was also provided on tax matters by Washington, D.C. partner Andrea Ramezan‑Jackson, with associate Eni Kassim; and on benefits matters by San Diego partner Holly Bauer. Additional advice was provided by other practice groups within the international Latham network.