Project Energy Reimagined Acquisition (PEGR) - 2023 Q4 - Annual Report

We may seek to enter into a business combination transaction agreement with a prospective target that requires as a closing condition that we have a minimum net worth or a certain amount of cash. If too many public shareholders exercise their redemption rights, we would not be able to meet such closing condition and, as a result, would not be able to proceed with the business combination. This risk is magnified because we paid approximately $161.3 million out of the trust account to shareholders that tender ...