Forum Merger III Completes Business Combination with Electric Last Mile (ELMS)
June 25, 2021
Forum Merger III Corporation completed its previously announced business combination with Electric Last Mile, Inc., creating Electric Last Mile Solutions, Inc. (ELMS) as a publicly traded company with common stock and warrants expected to begin trading on Nasdaq under the symbols ELMS and ELMSW on June 28, 2021. The transaction provides ELMS with capital to commercialize its Urban Delivery electric commercial vehicle (to be produced at its Mishawaka, Indiana facility) and to pursue connected upfitting and other fleet solutions.
- Buyers
- Forum Merger III Corporation
- Targets
- Electric Last Mile Solutions, Inc.
- Industry
- Automotive
- Location
- Michigan, United States
- Transaction Type
- Recapitalization
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