Electric Last Mile Inc., a Troy-based electric vehicle manufacturer, has achieved public company status and will begin trading on the NASDAQ exchange on Monday under the symbol ELMS.Shareholders of Forum Merger III Corp., a Delray, Fla.-based special purpose acquisition corporation, or SPAC, on…
Forum Merger III Corporation and Electric Last Mile, Inc. Remind Stockholders to Vote to Approve Business Combination benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
Section 7.02(b) did not survive the dissolution of Forum Capital;
Section 7.02(b) was intended to prohibit a member or manager “from participating in another SPAC without the other parties’ permission because doing so while the current deal was ongoing could have harmed the [FMC I] SPAC”;
“Once the [FMC I] SPAC was successfully completed and Forum Capital wound up, Section 7.02(b) became moot”;
Vogel’s interpretation of Section 7.02(b) is “absurd and unenforceable as a matter of public policy” because it “serves no legitimate business interest.”
Vogel’s suit was barred under Delaware’s doctrine of election of remedies based on Vogel’s admission in his complaint that he participated in a SPAC organized by a third party after Kiev and Boris informed him they were moving forward with a second SPAC without Vogel’s consent; and
SPAC Boom or Bust?
SPAC true believers say the boom is about to begin, but the media says it s over and the bubble has burst. Which is it?
Author:
Apr 23, 2021
After another day of SPAC red,
there are now over 300 SPACs that have common shares trading under $10. This is the real test now for SPAC investors. Believers will see this as the ultimate opportunity to prepare for a SPAC boom and drive hard on the yield + optionality play that SPACs offer. But, for those less confident in the SPAC narrative, and the growing number of pure doomsayers fueled by the media, this will be the ultimate sign of the SPAC market s capitulation.
Best SPAC Opportunities for Monday
With the SPAC market slowing down and starting to clear out, some investors are looking for upside with announced deals. In addition, investors continue to look in the bargain bin for yield as well.
Author:
Apr 5, 2021
Last week we saw the SPAC IPO market close for business with only 2 SPACs pricing. This is good news as the market needs to clear out so that investors can get excited again about good SPACs and good deals. Given that there has been no IPO pop and very little deal announcement pop lately though CMII and AJAX had a some SPAC investors are starting to look at a combination of strong sponsor/teams with SPACs that already have announced deals.