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Electric Last Mile, Inc. and Forum Merger III Corporation (Nasdaq: FIII, FIIIU, FIIIW) have successfully completed their business combination, approved by stockholders on June 24, 2021. As a result, Electric Last Mile Solutions, Inc. (ELMS) is now publicly traded, with common stock and warrants starting to trade on Nasdaq under the symbols 'ELMS' and 'ELMSW' from June 28, 2021. The Urban Delivery, ELMS's first Class 1 commercial electric vehicle, is set to launch later this year, aiming for a 150-mile range and customizable solutions for fleets.
Forum Merger III Corporation (Nasdaq: FIII, FIIIU, FIIIW) announced that its stockholders approved the business combination with Electric Last Mile, Inc. (ELMS). At a special meeting, about 99% of votes cast, representing approximately 67% of outstanding shares, supported the merger. The closing is expected on June 25, 2021, pending customary conditions. Post-merger, the combined entity will be named Electric Last Mile Solutions, Inc., trading under ticker symbols ELMS and ELMSW starting June 28, 2021. Co-CEOs expressed optimism regarding this strategic partnership.
Electric Last Mile, Inc. (ELMS) has appointed Jonathan Ballon as its first Chief Digital Officer. In this role, he will shape the company's digital strategy and lead the establishment of a new Software & IoT Center of Excellence. Ballon, a veteran with 25 years in technology, previously held key positions at Intel and GE. The company also noted the pending merger with Forum Merger III Corporation (Nasdaq: FIII), expected to finalize this month, creating Electric Last Mile Solutions, Inc. This merger positions ELMS to innovate in the commercial electric vehicle sector.
Electric Last Mile, Inc. (ELMS) has announced the addition of eight new leaders to its global team, enhancing its capabilities in engineering, marketing, and operations. Key appointments include Praveen Cherian as VP of Engineering and Georgette Borrego Dulworth as VP of Human Resources. These executives bring decades of experience from top automotive companies like Ford and General Motors. This strategic expansion comes as ELMS prepares for the closing of its merger with Forum Merger III Corporation (Nasdaq: FIII), which aims to list the company publicly under the new name Electric Last Mile Solutions, Inc.
Forum Merger III Corporation (Nasdaq: FIII, FIIIU, FIIIW) announced its management team purchased approximately $4.9 million in common stock, acquiring 500,000 shares, ahead of a merger with Electric Last Mile, Inc. (ELMS). The investment signals confidence in ELMS as a leader in the commercial electric vehicle sector. A special meeting to approve the business combination will occur on June 24, 2021, with the new entity named Electric Last Mile Solutions, Inc. if approved. Forum focuses on mergers with U.S.-based companies valued between $500 million and $2 billion.
Electric Last Mile, Inc. (ELMS) has announced that it will unveil its all-electric medium-duty truck, the Urban Utility, at the Route Consultant Contractor Expo on July 30-31 in Nashville, Tennessee. This truck features a range of about 250 miles and a payload capacity of 5,700 pounds. ELMS plans to begin production of the Urban Delivery, the first Class 1 commercial EV in the U.S., later this year. The company will also showcase test drives of its vehicles and highlight its partnership with Randy Marion Automotive Group to enhance its distribution network.
Forum Merger III Corporation (Nasdaq: FIII, FIIU, FIIW) reminds stockholders to vote on the proposed business combination with Electric Last Mile, Inc. (ELMS), which will make ELMS a publicly listed entity under the ticker symbol "ELMS." The virtual Special Meeting is set for June 24, 2021, with voting encouraged by June 23, 2021. If approved, trading of the combined entity will begin shortly after. Stockholders as of the May 20, 2021 record date can vote online, by phone, or by mail. Assistance is available through Forum’s proxy solicitor for those needing help.
Forum Merger III Corporation (Nasdaq: FIII, FIIU, FIIW) is urging shareholders to vote for its proposed business combination with Electric Last Mile, Inc., which would allow ELMS to be publicly traded under the ticker "ELMS". A special meeting for shareholders is set for June 24, 2021, with a voting deadline of June 23, 2021, at 11:59 p.m. ET. Shareholders who owned shares as of May 20, 2021, are encouraged to vote even if they have sold their shares since that date. The closing of the business combination is contingent on various conditions being met.
Forum Merger III Corporation (Nasdaq: FIII) announced the filing of a definitive proxy statement for its business combination with Electric Last Mile, Inc. (ELMS), a commercial electric vehicle company. A virtual Special Meeting for stockholders will occur on June 24, 2021, for voting on the merger. If approved, trading of the combined entity on NASDAQ is expected to commence shortly thereafter. Stockholders can vote through various methods, with assistance available from Morrow Sodali.
Electric Last Mile, Inc. (ELMS) has announced its participation in key investor events, including the Jefferies Renewable Energy Conference on May 25, 2021, and the Wolfe Research Global Transportation and Industrials Conference on May 26-27, 2021. CEO James Taylor will present on May 27 from 3:20 p.m. ET. ELMS, set to merge with Forum Merger III Corporation (NASDAQ: FIII), will continue as Electric Last Mile Solutions, Inc. after the merger. The company aims to launch the Urban Delivery, its first commercial electric vehicle in the U.S.
