Enterprise Investor Jason Green Talks SPAC Hopefuls Versus Traditional IPOs: TechCrunch

Electric Last Mile merged in June 2021 with Forum Merger III. The transaction reflected a pro forma implied equity value for the combined company of approximately $1.4 billion. Less than a year later, the EV maker filed for bankruptcy.

Two directors and the SPAC's CFO have quit since the end of November.

The deal with American Acquisition Opportunity announced last week would result in gross proceeds of $16 million for Royalty Management.

The investment bank wants to establish three SPACs capitalized with $200 million each.