Forum Merger III set a June 24 date for shareholders to vote on its proposed merger with Electric Last Mile, a pure-play commercial EV company. Forum’s definitive proxy statement outlining the deal has been filed with the SEC.
If approved, the combined company will list on the Nasdaq under ELMS.
Announced in December, the transaction reflects a pro forma implied equity value for the combined company of approximately $1.4 billion. The purchase includes the support of a $155 million PIPE.
Based in Detroit, the target company designs, manufactures and customizes electric, connected last-mile delivery vehicles. Read more.
