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Announced

Completed

Electric Last Mile went public via a SPAC merger with Forum Merger III in a $1.4bn deal.

Financials

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Transaction Value£1,056m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Single Bidder

Automobiles

electric vehicle technology

Friendly

electric vehicles

Private

Acquisition

United States

Domestic

Majority

Merger

Reverse Takeover

De-SPAC

Completed

Synopsis

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Electric Last Mile, an electric vehicle company, went public via a SPAC merger with Forum Merger III, a special purpose acquisition vehicle, in a $1.4bn deal. “Today is a critical milestone for ELMS as we now believe we have all the pieces in place to execute on our business plan and transform productivity for the last mile. We are excited to take advantage of our anticipated first-mover opportunities in the commercial EV space with the launch of our Urban Delivery later this year and to help make the US the world leader for EV manufacturing," James Taylor, ELMS CEO.

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