The issuer, a SPAC, offered 25,000,000 units which were listed on Nasdaq

Davis Polk advised the representatives of the several underwriters in connection with the initial public offering of 25,000,000 units of Project Energy Reimagined Acquisition Corp., for aggregate proceeds of $250 million. Each unit consists of one Class A ordinary share and one-half of one warrant to purchase one Class A ordinary share of Project Energy Reimagined Acquisition Corp. The Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols “PEGR” and “PEGRW,” respectively.

Project Energy Reimagined Acquisition Corp. is a special purpose acquisition company (SPAC) looking to complete a business combination with one or more 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.

The Davis Polk corporate team included partners Roshni Banker Cariello and Derek Dostal and associates Joanna Sedlak and Courtney Y. Sohn. The tax team included partner Michael Farber and associate Dov Sussman. Counsel Marcie A. Goldstein provided FINRA advice. All members of the Davis Polk team are based in the New York office.