Electric Urban Fleet Vehicles Show Promise

The commercial EV van and truck startup Electric Last Mile Solutions, Inc. (ELMS) reached a financial milestone June 28 as its shares of its common stock and warrants started trading on The Nasdaq Stock Market under the new ticker symbols “ELMS” and “ELMSW”, respectively.

The company formally completed its business combination with Forum Merger III Corporation (“Forum” or “Forum III”), a special purpose acquisition company (SPAC), that it announced in December 2020. Forum shareholders approved the combination at a special meeting held on June 24, 2021.

In an interview with Charged Fleet June 28, ELMS CEO and co-founder Jim Taylor said the company won’t be able to release a projected amount of capital to be raised through shareholder training until it files a Super 8K with the SEC four days later. The total number of outstanding shares also will not be available until the form is filed.

Source: https://www.chargedfleet.com/10146398/elms-opens-on-nasdaq-as-its-electric-urban-fleet-vehicles-show-promise

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