# EDGAR Filing Document

**Accession Number:** 0002051985
**File Stem:** 0001213900-26-058494
**Filing Date:** 2026-5
**Character Count:** 43267
**Document Hash:** 338c2bad21cfdd4ef968824468028671
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-26-058494.hdr.sgml**: 20260518

**ACCESSION NUMBER**: 0001213900-26-058494

**CONFORMED SUBMISSION TYPE**: 425

**PUBLIC DOCUMENT COUNT**: 5

**FILED AS OF DATE**: 20260518

**DATE AS OF CHANGE**: 20260518

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Iron Horse Acquisition II Corp.
- **CENTRAL INDEX KEY:** 0002051985
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 000000000
- **FISCAL YEAR END:** 1130

**FILING VALUES:**
- **FORM TYPE:** 425
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-43021
- **FILM NUMBER:** 26994090

**BUSINESS ADDRESS:**
- **STREET 1:** 851 BROKEN SOUND PARKWAY NW, SUITE 230
- **CITY:** BOCA RATON
- **STATE:** FL
- **ZIP:** 33487
- **BUSINESS PHONE:** 310-290-5383

**MAIL ADDRESS:**
- **STREET 1:** 851 BROKEN SOUND PARKWAY NW, SUITE 230
- **CITY:** BOCA RATON
- **STATE:** FL
- **ZIP:** 33487

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Iron Horse Acquisitions Corp. II
- **DATE OF NAME CHANGE:** 20250225

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Iron Horse Acquisition Corp. II
- **DATE OF NAME CHANGE:** 20250114
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Iron Horse Acquisition II Corp.
- **CENTRAL INDEX KEY:** 0002051985
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 000000000
- **FISCAL YEAR END:** 1130

**FILING VALUES:**
- **FORM TYPE:** 425

**BUSINESS ADDRESS:**
- **STREET 1:** 851 BROKEN SOUND PARKWAY NW, SUITE 230
- **CITY:** BOCA RATON
- **STATE:** FL
- **ZIP:** 33487
- **BUSINESS PHONE:** 310-290-5383

**MAIL ADDRESS:**
- **STREET 1:** 851 BROKEN SOUND PARKWAY NW, SUITE 230
- **CITY:** BOCA RATON
- **STATE:** FL
- **ZIP:** 33487

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Iron Horse Acquisitions Corp. II
- **DATE OF NAME CHANGE:** 20250225

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Iron Horse Acquisition Corp. II
- **DATE OF NAME CHANGE:** 20250114

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d)**

**OF THE SECURITIES EXCHANGE ACT OF 1934**

**Date of Report (Date of earliest event reported): May 14, 2026**

**IRON HORSE ACQUISITION II CORP.**

**(Exact name of registrant as specified in its charter)**

---

| | | |
|:---|:---|:---|
| **Cayman Islands** | **001-43021** | **98-1885362** |
| **(State or other jurisdiction**<br> **of incorporation)** | **(Commission File Number)** | **(IRS Employer**<br> **Identification No.)** |

---

**851 Broken Sound Parkway NW, Suite 230**

**Boca Raton, FL 33487<br> (Address of principal executive offices, including zip code)**

**Registrant's telephone number, including area code:** 

**(310) 290-5383**

**Not Applicable**

**(Former name or former address, if changed since last report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☒ Written communications pursuant
to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| **Units, each consisting of one ordinary share, $0.0001 par value, and one-right** | **IRHOU** | **The Nasdaq Stock Market LLC** |
| **Ordinary shares, par value $0.0001 per share** | **IRHO** | **The Nasdaq Stock Market LLC** |
| **Right-each right entitles the holder thereof to receive one-tenth (1/10) of an ordinary share** | **IRHOR** | **The Nasdaq Stock Market LLC** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 1.01. Entry into a Material Definitive Agreement.**

On May 14, 2026, Iron Horse Acquisition II Corp. ("**IRHO**") entered into an Amendment (the "**Amendment**") to the Merger Agreement by and among IRHO, IRHO Merger Sub Inc., a Delaware corporation and a direct, wholly owned subsidiary of IRHO ("**Merger Sub**"), and Electra Vehicles, Inc., a Delaware corporation ("**Electra**") (as it may be amended and/or restated from time to time, the "**Merger Agreement**") entered into by the parties in connection with the proposed business combination between IRHO and Electra (the "Business Combination").

Capitalized terms used in this Current Report on Form 8-K but not otherwise defined herein have the meanings given to them in the Merger Agreement.

Among other things , the Amendment revises certain provisions of the Merger Agreement including:

● the definitions of Aggregate Merger Consideration, Company Earnout Holders, Conversion Ratio;

● the calculation of the Aggregate Merger Consideration and Conversion Ratio;

● the treatment of the Company Convertible Notes to be issued in connection with Electra's bridge financing;

● Minimum Ownership Threshold provisions; and

● the earnout share provisions applicable following the closing of the Business Combination.

The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by the Amendment, which is filed hereto as Exhibit 2.1 and incorporated herein by reference.

**Item 8.01. Other Events.**

On May 15, 2026, Iron Horse Acquisition II Corp., a Cayman Islands exempted company ("**IRHO**"), announced they have filed a registration statement (the "**Registration Statement**") on Form S-4 with the Securities and Exchange Commission.

Attached as Exhibit 99.1 to this Current Report on Form 8-K is a copy of the press release issued by IRHO announcing the filing of the Registration Statement.

On May 16, 2026, Electra Vehicles, Inc. ("**Electra**") issued a letter to its shareholders announcing the filing of the Registration Statement and outlining contemplated steps around the Business Combination. A copy of the letter is attached hereto as Exhibit 99.2 and is incorporated herein by reference.

***Important Information About the Business Combination and Where to Find It***

 ****

The Business Combination will be submitted to shareholders of IRHO for their consideration. IRHO and Electra have filed a registration statement on Form S-4 (the "**Registration Statement**") with the Securities and Exchange Commission (the "**SEC**"), which includes a preliminary proxy statement/prospectus (a "**Proxy Statement/Prospectus**"). A definitive Proxy Statement/Prospectus will be mailed to IRHO's shareholders as of a record date to be established for voting on the Business Combination and other proposals. IRHO may also file other relevant documents regarding the Business Combination with the SEC. IRHO's shareholders and other interested persons are advised to read, once available, the preliminary Proxy Statement / Prospectus and any amendments thereto and, once available, the definitive Proxy Statement/Prospectus, in connection with IRHO's solicitation of proxies for its extraordinary meeting of shareholders to be held to approve, among other things, the Business Combination, because these documents will contain important information about IRHO, Electra and the Business Combination. Shareholders may also obtain a copy of the preliminary or definitive Proxy Statement/Prospectus, once available, as well as other documents filed with the SEC regarding the Business Combination and other documents filed with the SEC by IRHO, without charge, at the SEC's website located at www.sec.gov or by directing a request to: IRHO's Chief Executive Officer at 851 Broken Sound Parkway NW, Suite 230, Boca Raton, FL 33487.

***Participants in the Solicitation***

 ****

IRHO and Electra and certain of their respective directors, executive officers and other members of management and employees may be considered participants in the solicitation of proxies with respect to the Business Combination under the rules of the SEC. Information about (i) the directors and executive officers of IRHO is set forth in the IRHO Annual Report on Form 10-K for the year ended November 30, 2025, which was filed with the SEC on February 13, 2026, and (ii) a description of the interests of the directors and executive officers of IRHO and Electra, and the Business Combination, will be contained in the Registration Statement and the Proxy Statement/Prospectus when available, which documents can be obtained free of charge from the sources indicated above.

***Forward-Looking Statements***

 ****

The disclosure herein includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "project," "forecast," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward looking. These forward-looking statements include, but are not limited to, (1) statements regarding estimates and forecasts of other financial, performance and operational metrics and projections of market opportunity; (2) references with respect to the anticipated benefits of the proposed Business Combination and the projected future financial performance of Electra following the proposed Business Combination; (3) changes in the market for Electra's services and technology, expansion plans and opportunities; (4) Electra's unit economics; (5) the sources and uses of cash in connection with the proposed Business Combination; (6) the anticipated capitalization and enterprise value of IRHO following the consummation of the proposed Business Combination; (7) the projected technological developments of Electra; (8) current and future potential commercial and customer relationships; (9) the ability to operate efficiently at scale; (10) anticipated investments in capital resources and research and development, and the effect of these investments; (11) the amount of redemption requests made by IRHO' public shareholders; (12) the ability of Electra to issue equity or equity-linked securities in the future; (13) the failure to achieve the minimum cash at closing requirements; (14) the inability to obtain or maintain the listing of the combined company's common stock on Nasdaq following the Proposed Business Combination, including but not limited to redemptions exceeding anticipated levels or the failure to meet Nasdaq's initial listing standards in connection with the consummation of the Proposed Business Combination; and (15) expectations related to the terms and timing of the proposed Business Combination. These statements are based on various assumptions, whether or not identified in this release, and on the current expectations of IRHO's and Electra's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of IRHO and Electra. These forward-looking statements are subject to a number of risks and uncertainties, as set forth in the section entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in the IRHO Annual Report on Form 10-K for the year ended November 30, 2025, which was filed with the SEC on February 13, 2026, and/or will be contained in the Registration Statement and the Proxy Statement/Prospectus when available, and in those other documents that IRHO has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. The risks and uncertainties above are not exhaustive, and there may be additional risks that neither IRHO nor Electra presently know or that IRHO and Electra currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward looking statements reflect IRHO's and Electra's expectations, plans or forecasts of future events and views as of the date of this Current Report on Form 8-K. IRHO and Electra anticipate that subsequent events and developments will cause IRHO and Electra's assessments to change. However, while IRHO and Electra may elect to update these forward-looking statements at some point in the future, IRHO and Electra specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing IRHO's and Electra's assessments as of any date subsequent to the date of this release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

***No Offer or Solicitation***

 ****

This Current Report on Form 8-K shall not constitute an offer to sell, or a solicitation of an offer to buy, or a recommendation to purchase, any securities in any jurisdiction, or the solicitation of any vote, consent or approval in any jurisdiction in connection with the Business Combination, nor shall there be any sale, issuance or transfer of any securities in any jurisdiction where, or to any person to whom, such offer, solicitation or sale may be unlawful under the laws of such jurisdiction. This Current Report on Form 8-K does not constitute either advice or a recommendation regarding any securities. No offering of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act, or an exemption therefrom.

**Item 9.01. Financial Statements and Exhibits.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits.

---

| | |
|:---|:---|
| **Exhibit<br> Number** | **Description** |
| 2.1 | [Amendment to Merger Agreement, dated May 14, 2026, by and among Iron Horse Acquisition II Corp., Electra Vehicles, Inc. and IRHO Merger Sub. Inc.](ea029087701ex2-1.htm) |
| 99.1 | [Press Release dated May 15, 2026](ea029087701ex99-1.htm) |
| 99.2 | [Letter to Shareholders of Electra Vehicles, Inc. dated May 16, 2026](ea029087701ex99-2.htm) |
| 104 | Cover Page Interactive Data File (embedded with the Inline XBRL document) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

**IRON HORSE ACQUISITION II CORP.**

---

| | | |
|:---|:---|:---|
| By: | /s/ Jose Bengochea | /s/ Jose Bengochea |
|  | Name: | Jose Bengochea |
|  | Title: | Chief Executive Officer |

---

Date: May 18, 2026

## Exhibit 2.1

**Exhibit 2.1**

**AMENDMENT TO MERGER AGREEMENT**

This AMENDMENT, dated as of May 14, 2026 (this "<u>Amendment</u>"), to the Merger Agreement (the "<u>Agreement</u>") dated as of April 21, 2026, by and among Electra Vehicles, Inc., a Delaware corporation (the "<u>Company</u>"), Iron Horse Acquisition II Corp., a Cayman Islands exempted company limited by shares (which shall de-register from the Register of Companies in the Cayman Islands by way of continuation out of the Cayman Islands and into the State of Delaware so as to migrate to and domesticate as a Delaware corporation prior to the Closing (as defined in the Agreement)) ("<u>Parent</u>"), and IRHO Merger Sub, Inc., a Delaware corporation ("<u>Merger Sub</u>," and together with Parent and the Company, the "<u>Parties</u>").

WHEREAS, Section 11.2 of the Agreement provides that the Agreement may be amended by a writing signed by each of the Parties; and

WHEREAS, each of the Parties desires to amend the Agreement as set forth herein.

NOW, THEREFORE, for and in consideration of the aforesaid premises and of the mutual representations, warranties and covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, intending to be legally bound, the Parties hereby agree as set forth below:

**Section 1.** **Amendment to Agreement**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.1** Clause (d) of the definition of "Aggregate Fully Diluted Company Common Stock" in Section 1.1 of the Agreement is hereby amended and restated in its entirety as follows:

"… (d) the aggregate number of shares of Company Common Stock issuable upon full conversion, exercise or exchange of any other securities of the Company (other than Company Options and the Company Convertible Notes issued or to be issued by the Company in connection with the Bridge Financing (as such term is defined in <u>Schedule 4.5(b)</u>) outstanding immediately prior to the Effective Time directly or indirectly convertible into or exchangeable or exercisable for shares of Company Common Stock."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.2** The definition of "Aggregate Merger Consideration" in Section 1.1 of the Agreement is hereby amended and restated in its entirety as follows:

""<u>Aggregate Merger Consideration</u>" means a number of Parent Common Shares equal to the quotient obtained by dividing (a) the Base Purchase Price, by (b) US$10.00, which Parent Common Shares shall include no more than a number of Parent Class B Common Shares equal to the Conversion Ratio multiplied by 3,994,802."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.3** The definition of "Company Earnout Holders" in Section 1.1 of the Agreement is hereby amended and restated in its entirety as follows:

""<u>Company Earnout Holders</u>" means the holders of Company Common Stock (but excluding holders of Dissenting Shares), Company Preferred Stock and Company Options (whether vested or unvested) as of immediately prior to the Effective Time."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.4** The definition of "Conversion Ratio" in Section 1.1 of the Agreement is hereby amended and restated in its entirety as follows:

""<u>Conversion Ratio</u>" means the quotient obtained by *dividing* (a) the number of Parent Common Shares constituting the Aggregate Merger Consideration, *by* (b) the number of shares constituting the Aggregate Fully Diluted Company Common Stock (without regard to the shares described in clause (c) thereof)."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.5** Section 3.2(c) of the Agreement is hereby amended and restated in its entirety as follows:

*"Treatment of Convertible Notes*. Prior to the Closing, the Company's Board of directors shall adopt such resolutions or take such other actions as may be required to adjust the terms of all Company Convertible Notes as necessary to provide that, at the Effective Time, each Company Convertible Note shall be converted into the right to receive a number of Parent Common Shares equal to (i) the Conversion Ratio *<u>multiplied by</u>* (ii) the number of shares of Company Common Stock issuable upon conversion of such Company Convertible Note as of immediately prior to the Effective Time (the "<u>Per Convertible Note Merger Consideration</u>")".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.6** Section 3.2(d) of the Agreement is hereby amended and restated in its entirety as follows:

"*Effect on Convertible Notes*. At the Effective Time, all Company Convertible Notes converted pursuant to <u>Section 3.2(c)</u> shall no longer be outstanding and shall automatically be canceled and shall cease to exist, and each holder of Company Convertible Notes shall thereafter cease to have any rights with respect to such securities, except the right to receive the Per Convertible Note Merger Consideration."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.7** Section 3.6(b) of the Agreement is hereby amended and restated in its entirety as follows:

"The Base Purchase Price shall be automatically adjusted upwards in increments of $10.00 until the Aggregate Merger Consideration (excluding shares of Parent Common Stock issuable under Section 3.2(c) and upon the exercise of Converted Stock Options) represents at least 50.1% of the Aggregate Parent Fully Diluted Shares (the "<u>Minimum Ownership Threshold</u>"). Such adjustment shall be self-executing, shall not require any further action by any party, and shall be reflected in the Closing Consideration Spreadsheet delivered pursuant to <u>Section 3.5</u>."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.8** Section 3.7(a)(i) of the Agreement is hereby amended and restated in its entirety as follows:

"Form and after the Closing until the end of the Earnout Period, as additional consideration in the Merger in respect of the shares of Company Capital Stock and the Company Options (and without the need for additional consideration from any holder thereof), the Company Earnout Holders shall be entitled to earn, in accordance with their respective Earnout Pro Rata Share, up to an aggregate amount of 15,000,000 additional Parent Common Shares (which, for the avoidance of doubt, shall be issued as Parent Class A Common Shares to Company Earnout Holders who hold exclusively Company Class A Common Stock, Company Preferred Stock or Company Options and as Parent Class B Common Shares to Company Earnout Holders who hold any shares of Company Class B Common Stock), in accordance with <u>Sections 3.7(a)(i)(A)</u>, <u>3.7(a)(i)(B)</u> and <u>3.7(a)(i)(C)</u> (subject to any adjustment pursuant to <u>Section 3.7(f)</u> the <u>Earnout Shares</u>")"

**Section 2.** **General Provisions**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1** All of the provisions of this Amendment shall be effective as of the date of this Amendment. Except to the extent specifically amended hereby, all of the terms of the Agreement shall remain unchanged and in full force and effect, and, to the extent applicable, such terms shall apply to this Amendment as if it formed a part of the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2** After giving effect to this Amendment, each reference in the Agreement to "this Agreement", "hereof", "hereunder" or words of like import referring to the Agreement shall refer to the Agreement as amended by this Amendment. For the avoidance of doubt, all references in the Agreement to "the date hereof" or "the date of this Agreement" shall; refer to April 21, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.3** The provisions of Article III (Miscellaneous) of the Agreement shall, to the extent not already set forth in this Amendment, apply *mutatis mutandis* to this Amendment, and to the Agreement as modified by this Amendment, taken together as a single agreement, reflecting the terms as modified hereby.

 

*[Signature Page Follows]*

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the day and year first above written.

---

| |
|:---|
| **Parent:** |
| IRON HORSE ACQUISITION II CORP. |

---

---

| | |
|:---|:---|
| By: | /s/ Jose Antonio Bengochea |
| Name: | Jose Antonio Bengochea |
| Title: | Chief Executive Officer |

---

---

| |
|:---|
| **Merger Sub:** |
| IRHO MERGER SUB, INC. |

---

---

| | |
|:---|:---|
| By: | /s/ Jose Antonio Bengochea |
| Name: | Jose Antonio Bengochea |
| Title: | Chief Executive Officer |

---

*[Signature Page to the Amendment to the Merger Agreement]*

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the day and year first above written.

---

| |
|:---|
| **Company:** |
| ELECTRA VEHICLES, INC. |

---

---

| | |
|:---|:---|
| By: | /s/ Fabrizio Martini |
| Name: | Fabrizio Martini |
| Title: | Chief Executive Officer and Co-Founder |

---

*[Signature Page to the Amendment to the Merger Agreement]*

## Exhibit 99.1

**Exhibit 99.1**

**ELECTRA AI and Iron Horse Acquisition II Corp. (Nasdaq: IRHO) Announce Filing of Registration Statement on Form S-4 with <br> the SEC in Connection with their Proposed Business Combination**

 

*~ Filing Represents a Critical Milestone in the Business Combination~*

 

*~ Combined Company to Operate as ELECTRA AI and Expected to Trade on Nasdaq under Ticker Symbol "AIBR" ~*

**BOSTON AND BOCA RATON — May 15, 2026 —** ELECTRA AI. ("ELECTRA"), the AI 'Brain for Batteries'™ solutions company, and Iron Horse Acquisition II Corp. (Nasdaq: IRHO) ("Iron Horse") today announced the filing of a registration statement on Form S-4 with the Securities and Exchange Commission (the "SEC") in connection with their previously announced definitive Business Combination Agreement (the "BCA").

While the registration statement has not yet been declared effective and is subject to revision, it contains essential information regarding the proposed business transaction.

**Transaction Overview**

As previously announced on April 21, 2026, ELECTRA and Iron Horse entered into a definitive Business Combination Agreement. The proposed transaction values ELECTRA at an implied equity value of approximately $250 million+, including earn-out targets. The respective boards of directors of both ELECTRA and Iron Horse have unanimously approved the transaction, which is expected to close in the second half of 2026, subject to approval by Iron Horse's stockholders, registration with the SEC, and other customary closing conditions.

Cantor Fitzgerald acted as underwriter to Iron Horse in connection with its initial public offering, and Loeb & Loeb LLP is serving as Iron Horse's legal counsel. Park Avenue Capital Group Corp. and Roth Capital Partners serve as financial advisors to ELECTRA, with Latham & Watkins LLP as ELECTRA's legal counsel.

**About ELECTRA AI**

ELECTRA AI is the leading AI-driven cleantech and B2B software company, accelerating the world's transition to electrification by unlocking the full potential of battery technology. ELECTRA AI builds the AI Brain for Batteries™ platform — a unified intelligence layer that enables battery systems to be monitored, optimized, and controlled across their full lifecycle. By combining Agentic AI, Physical AI, Physics-informed Battery Modeling with Large Quantitative Models (LQMs), ELECTRA AI transforms batteries from passive hardware into intelligent, adaptive, and increasingly autonomous assets.

ELECTRA AI powers battery intelligence across every major battery-powered sector, including Energy Infrastructure (BESS for grid, renewables, and data centers), autonomous systems (robotics, humanoid, space assets), and e-mobility, helping make electrification safer, more resilient, and more economically productive. ELECTRA AI was co-founded in 2015 by Fabrizio Martini, inspired by work conducted as a Principal Investigator on NASA projects. For more information please visit the ELECTRA website at https://www.electrabrain.ai/.

**About Iron Horse Acquisition II Corp.**

Iron Horse Acquisition II Corp. (Nasdaq: IRHO) (www.ironhorseacquisition.com) is a special purpose acquisition company co-founded by CEO and Chairman Jose Antonio Bengochea and CFO Bill Caragol. Iron Horse completed its initial public offering in December 2025, raising gross proceeds of approximately $230 million. Iron Horse was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses, with a particular focus on companies in the AI, media, and technology sectors.

***Forward-Looking Statements***

Certain statements in this press release may be considered "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or Iron Horse's or Electra's future financial or operating performance. For example, statements regarding the anticipated timing of closing, expectations regarding the combined company's business, and potential benefits of the transaction are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "expect," "intend," "will," "estimate," "anticipate," "believe," "predict," "potential," or "continue," or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Iron Horse and Electra and their respective management teams, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (i) the occurrence of any event, change, or other circumstances that could give rise to the termination of the BCA; (ii) the outcome of any legal proceedings that may be instituted against Iron Horse, Electra, the combined company, or others following the announcement of the transaction; (iii) the inability to complete the transaction due to the failure to obtain approval of the stockholders of Iron Horse or to satisfy other conditions to closing; (iv) changes to the proposed structure of the transaction that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the transaction; (v) the ability to meet Nasdaq's continued listing standards following the consummation of the transaction; (vi) the risk that the transaction disrupts current plans and operations of Electra as a result of the announcement and consummation of the transaction; (vii) the ability to recognize the anticipated benefits of the transaction, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (viii) costs related to the transaction; (ix) changes in applicable laws or regulations; and (x) the possibility that Electra or the combined company may be adversely affected by other economic, business, and/or competitive factors. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Neither Iron Horse nor Electra undertakes any duty to update these forward-looking statements, except as required by law.

***No Offer or Solicitation***

This press release does not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed transaction, and shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. No offering of securities will be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.

***Additional Information about the Business Combination and Where to Find It***

In connection with the proposed business combination, Iron Horse and Electra have filed a registration statement on Form S-4 (the "Registration Statement") with the SEC, which includes a proxy statement/prospectus, and certain other related documents, to be used at the meeting of stockholders to approve the proposed business combination. INVESTORS AND SECURITY HOLDERS OF IRON HORSE ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS, ANY AMENDMENTS THERETO, THE UPDATED INVESTOR PRESENTATION, AND OTHER RELEVANT DOCUMENTS THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ELECTRA, IRON HORSE, AND THE BUSINESS COMBINATION. The definitive proxy statement will be mailed to shareholders of Iron Horse as of a record date to be established for voting on the proposed business combination and other proposals. Investors and security holders will also be able to obtain copies of the Registration Statement and other documents containing important information about each of the companies once such documents are filed with the SEC, without charge, at the SEC's website at www.sec.gov, or by directing a request to: Loeb & Loeb LLP.

***Participants in the Solicitation***

Iron Horse, Electra, and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Iron Horse's stockholders in connection with the proposed business combination. A list of the names of such directors and executive officers and information regarding their interests in the proposed business combination will be contained in the Registration Statement when available.

**Media Contacts**

**ELECTRA**

www.electrabrain.ai

**Giovanni Rossi** – grossi@electravehicles.com

**IRON HORSE**

www.ironhorseacquisition.com

**Bill Caragol** – bill@ironhorseacquisition.com

Source: IRON HORSE & ELECTRA AI

## Exhibit 99.2

**Exhibit 99.2**

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| ![](ea029087701_ex99-2img1.jpg) | ELECTRA AI<br> 110 K St. Suite 330, Boston, MA 02210 | w: electrabrain.ai \| p: 617.313.7842 <br> e: contact@electrabrain.ai |

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To our Shareholders:

I am pleased to share an important update regarding our proposed business combination with Iron Horse Acquisition II Corp. (Nasdaq: IRHO) ("Iron Horse").

On May 14, 2026, a Registration Statement on Form S-4 was filed with the U.S. Securities and Exchange Commission (the "SEC") in connection with our proposed business combination (the "Registration Statement").

The Form S-4 is a comprehensive disclosure document providing investors with detailed information about ELECTRA AI ("ELECTRA"), Iron Horse, and the terms of the proposed transaction. The SEC's declaration of effectiveness of the Form S-4 is a key regulatory condition that must be satisfied before the transaction can close.

Below is an illustrative chronological sequence of key steps between today and the public listing:

1. SEC review of the Form S-4, including response to any staff comments and filing of amendments as needed.

2. SEC declaration of effectiveness of the Form S-4.

3. Mailing of the definitive proxy statement/prospectus to Iron Horse stockholders.

4. Special meeting of Iron Horse stockholders to vote on the business combination.

5. Satisfaction of remaining closing conditions, including Nasdaq listing approval for the combined company's common stock.

6. Closing of the business combination.

7. Commencement of trading of the combined company's common stock on Nasdaq under the ticker symbol "AIBR."

**This filing does not alter the terms of your equity interests or require any immediate action on your part**. The transaction is expected to close in the second half of 2026, subject to receiving Electra and Iron Horse shareholder approval and the satisfaction of certain closing conditions. For additional information relating to the business combination, please read the Registration Statement.

Upon completion of the business combination, the combined company will operate as a new publicly listed entity, ELECTRA AI, which intends to apply to list its common stock on the Nasdaq under the ticker symbol "AIBR", AI-Brain for Batteries.

Reaching this milestone is a testament to the extraordinary dedication, bold vision, and relentless hard work of the entire Electra team — from our Board of Directors and Strategic Advisors who have provided invaluable guidance and strategic insight, to our visionary employees whose innovation and tireless execution have driven our technological breakthroughs every day. We are also deeply grateful to all of our investors, partners, and clients for their unwavering support, confidence, and belief in our mission to deliver the AI Brain for Batteries™. We are immensely proud of the progress we have made together.

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| ![](ea029087701_ex99-2img1.jpg) | ELECTRA AI<br> 110 K St. Suite 330, Boston, MA 02210 | w: electrabrain.ai \| p: 617.313.7842 <br> e: contact@electrabrain.ai |

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We are committed to keeping you informed and will issue further communications as milestones are achieved.

Thank you for your continued support, unwavering confidence, and shared long-term vision in ELECTRA as we enter this exciting new chapter together.

**Frequently Asked Questions**

In response to questions we have received from shareholders, we have set out below answers to some of the most common inquiries regarding the proposed business combination. We will continue to update this section as additional questions arise.

Q. Will ELECTRA be providing regular updates to shareholders on the progress of the merger?

A. Yes. We are committed to keeping shareholders informed and will issue further communications as milestones are achieved.

Q. Does the lock-up period apply to all common shareholders?

A. Yes, the lock-up period applies to all ELECTRA stockholders following completion of the business combination.

Q. What is the structure of the lockup?

A. ELECTRA shareholders, officers, directors, and the IRHO SPAC Sponsor are subject to a staggered lock-up releasing in four equal quarterly installments (25% each), beginning with the first quarterly earnings release at least 120 days post-close, with full release upon the fourth, approximately 12–16 months post-close. Shares acquired in open market transactions during the lock-up period are not subject to these restrictions.

Q. Are the earn-out shares reserved for active employees only, or do they apply to all shareholders?

A. The earn-out shares referenced in the 8-K filing apply to all ELECTRA shareholders, not solely to active employees.

Q. How will my existing ELECTRA shares convert in the business combination?

A. At closing, outstanding ELECTRA shares will be converted into shares of the combined company on the terms set forth in the Business Combination Agreement. Additional detail on the conversion mechanics is provided in the Registration Statement.

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|:---|:---|:---|
| ![](ea029087701_ex99-2img1.jpg) | ELECTRA AI<br> 110 K St. Suite 330, Boston, MA 02210 | w: electrabrain.ai \| p: 617.313.7842 <br> e: contact@electrabrain.ai |

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**Cautionary Note Regarding Forward-Looking Statements**

Certain statements in this communication may be considered "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or Iron Horse's or Electra's future financial or operating performance. For example, statements regarding the anticipated timing of closing, expectations regarding the combined company's business, and potential benefits of the transaction are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "expect," "intend," "will," "estimate," "anticipate," "believe," "predict," "potential," or "continue," or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Iron Horse and Electra and their respective management teams, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (i) the occurrence of any event, change, or other circumstances that could give rise to the termination of the BCA; (ii) the outcome of any legal proceedings that may be instituted against Iron Horse, Electra, the combined company, or others following the announcement of the transaction; (iii) the inability to complete the transaction due to the failure to obtain approval of the stockholders of Iron Horse or to satisfy other conditions to closing; (iv) changes to the proposed structure of the transaction that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the transaction; (v) the ability to meet Nasdaq's continued listing standards following the consummation of the transaction; (vi) the risk that the transaction disrupts current plans and operations of Electra as a result of the announcement and consummation of the transaction; (vii) the ability to recognize the anticipated benefits of the transaction, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (viii) costs related to the transaction; (ix) changes in applicable laws or regulations; and (x) the possibility that Electra or the combined company may be adversely affected by other economic, business, and/or competitive factors. Nothing in this press release should be regarded as a representation by any person.