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Electric delivery van company Electric Last Mile is set to go public through a SPAC merger with Forum Merger III Corporation.
The SPAC Deal: Electric Last Mile will merge with
Forum Merger III Corporation (NASDAQ: FIII). The deal values the company at $1.4 billion.
Forum Merger III shareholders will own 17.6% of the new company. Electric Last Mile will trade under the ticker ELMS on the NASDAQ.
About Electric Last Mile: The Electric Last Mile team includes founder and chairman Jason Luo, who was previously the chairman and CEO of
Ford Motor Company’s (NYSE: F) China business. Founder and CEO James Taylor worked for