Foley & Lardner LLP acted as legal counsel to Electric Last Mile, Inc. in its business combination with Forum Merger III Corporation. The merger resulted in Electric Last Mile Solutions, Inc. (“ELMS”) becoming a publicly traded company with its common stock and warrants to begin trading on the Nasdaq Stock Market on June 28, 2021 under the ticker symbols “ELMS” and “ELMSW”, respectively.
ELMS, a pure-play commercial electric vehicle company, is launching ELMS Urban Delivery later this year, which stands to be the first Class 1 commercial electric vehicle available in the U.S. market. Later this summer, ELMS also plans to unveil a working prototype of its second vehicle, the Urban Utility, an all-electric medium duty cab forward truck.
The merger will allow ELMS to execute upon its business plan and mission to define a new era in which commercial vehicles run clean as connected and customized solutions, making its customers’ businesses more efficient and profitable.
The Foley team included partners Paul Broude, Megan Odroniec, Jon Witt, and Mark Aiello, and senior counsel Garrett Bishop.