Discussion board Merger III Corporation Stockholders Approve Enterprise Blend with Electrical Previous Mile, Inc.

– Electric Past Mile Anticipated to Start out Buying and selling on the Nasdaq Beneath Ticker “ELMS” on June 28, 2021

DELRAY Beach, Fla. & TROY, Mich., June 24, 2021–(Business enterprise WIRE)–Forum Merger III Corporation (Nasdaq: FIII, FIIIU, FIIIW) (“Discussion board” or the “Business”) and Electrical Last Mile, Inc. (“ELMS”) nowadays introduced that Forum’s stockholders have permitted all proposals associated to the companies’ beforehand declared company mixture.

At a particular conference of Forum’s stockholders held today, about 99% of the votes solid, symbolizing roughly 67% of Forum’s fantastic shares as of the document day for the meeting, voted to approve the small business mix with ELMS. The official benefits of the vote will be provided on a Type 8-K to be submitted with the U.S. Securities and Exchange Commission.

David Boris, Co-CEO and Chief Financial Officer of Discussion board Merger III, commented, “We are thrilled with the shareholder assistance we have been given for our merger with ELMS. We imagine ELMS is strongly positioned to be a very first mover in the marketplace as consumers find additional productive and sustainable solutions.”

Jason Luo, Government Chairman of ELMS, claimed, “Today’s shareholder acceptance is an significant milestone for ELMS and a validation of our method to redefine very last mile solutions and electrify industrial fleets. We’d like to thank Forum for their partnership and guidance primary up to this day.”

The closing of the organization mix is anticipated to just take position on June 25, 2021, subject to the fulfillment of specific customary closing ailments. The merged enterprise will be renamed Electrical Very last Mile Options, Inc., and its popular stock and warrants are predicted to begin investing on the Nasdaq Inventory Current market less than the ticker symbols “ELMS” and “ELMSW”, respectively, on June 28, 2021.

About Forum Merger III Company

Forum Merger III Company (NASDAQ: FIII, FIIIU, FIIIW) is a blank examine firm fashioned for the goal of entering into a merger, money inventory trade, asset acquisition, inventory invest in, reorganization or equivalent business mix with a person or a lot more businesses. Forum’s mandate is to take into consideration an original business enterprise combination concentrate on in any business enterprise or market and it centered its research on organizations with an mixture organization price of somewhere around $500 million to $2 billion that are based mostly in the United States. Forum is led by Co-Chief Executive Officers Marshall Kiev and David Boris.

About Electric powered Last Mile, Inc.

Electric Last Mile, Inc. (“ELMS”) is centered on redefining the previous mile with productive, linked and customizable alternatives. ELMS’ initially auto, the City Delivery, is expected to be the initially Course 1 professional electrical car or truck in the U.S. market place. The enterprise is headquartered in Troy, Michigan. For extra facts, remember to pay a visit to www.electriclastmile.com or Twitter @ELMSolutions.

Forward-On the lookout Statements

This press release contains “ahead-on the lookout statements” within just the which means of the “safe harbor” provisions of the Personal Securities Litigation Reform Act of 1995. Discussion board Merger III Corporation’s (“Discussion board”) and ELMS’s real results might vary from their expectations, estimates and projections and therefore, you must not count on these forward-hunting statements as predictions of upcoming activities. Phrases these types of as “be expecting,” “estimate,” “undertaking,” “spending budget,” “forecast,” “foresee,” “intend,” “plan,” “might,” “will,” “could,” “should really,” “thinks,” “predicts,” “opportunity,” “go on,” and very similar expressions are supposed to discover this kind of ahead-seeking statements. These forward-looking statements consist of, with out limitation, Forum’s and ELMS’s anticipations with respect to foreseeable future efficiency and anticipated economical impacts of the previously declared business mix of Forum and ELMS (the “small business blend”), the pleasure of the closing circumstances to the organization blend, the dimensions, calls for and growth potential of the markets for ELMS’s items and ELMS’s skill to serve all those markets, ELMS’s means to develop impressive goods and compete with other firms engaged in the industrial shipping and delivery automobile business and/or the electrical car market, ELMS’s capacity to catch the attention of and keep customers, the believed go to current market timing and charge for ELMS’s products and solutions, the implied valuation of ELMS and the timing of the completion of the organization blend. These ahead-wanting statements require considerable pitfalls and uncertainties that could result in the genuine final results to differ materially from the anticipated outcomes. Most of these components are outside Forum’s and ELMS’s control and are tough to forecast. Elements that may result in such discrepancies contain, but are not minimal to: (1) the occurrence of any occasion, transform or other conditions that could give increase to the termination of the settlement and plan of merger (“Merger Settlement”) relating to the business combination or could normally lead to the small business blend to fall short to close (2) the incapacity of ELMS to consummate the Carveout Transaction (as defined down below) (3) the consequence of any lawful proceedings that may be instituted against Forum or ELMS next the announcement of the business mixture (4) the lack of ability to finish the business mixture, like due to failure to satisfy conditions to closing in the Merger Arrangement (5) the receipt of an unsolicited offer you from an additional get together for an alternate organization transaction that could interfere with the enterprise mixture (6) the incapability to get hold of the listing of the prevalent inventory of the post-acquisition company on the Nasdaq Inventory Current market or any different nationwide securities trade adhering to the small business mix (7) the risk that the announcement and consummation of the small business blend disrupts existing programs and operations (8) the incapacity to recognize the anticipated added benefits of the organization mix, which might be affected by, among other items, competitiveness and the potential of the mixed organization to mature and handle expansion profitably and retain its critical workers (9) prices associated to the enterprise blend (10) adjustments in relevant guidelines or laws (11) the possibility that ELMS may well be adversely afflicted by other financial, company, and/or competitive elements (12) the effects of COVID-19 on the merged company’s company and (13) other risks and uncertainties indicated from time to time in the proxy statement submitted relating to the small business combination, including these beneath the “Hazard Variables” segment therein, and in Forum’s other filings with the SEC. Some of these dangers and uncertainties may in the potential be amplified by the COVID-19 outbreak and there could be more hazards that Forum and ELMS contemplate immaterial or which are unknown. Forum and ELMS warning that the foregoing record of things is not distinctive. Discussion board and ELMS caution visitors not to area undue reliance upon any ahead-searching statements, which discuss only as of the date created. ELMS is presently engaged in minimal functions only and its means to have out its organization strategies and strategies in the foreseeable future are contingent on the closing of the company mix. The consummation of the organization mixture is subject matter to, amid other disorders, (i) the efficiency of certain agreements involving ELMS and SF Motors, Inc. (d/b/a SERES) (“SERES”), (ii) the acquisition by ELMS of a leasehold curiosity in, or payment easy title to, the Indiana production facility prior to the business enterprise mix (presented that Forum has agreed that this situation will be waived upon delivery by ELMS of evidence of the mutual written agreement of ELMS and SERES as to the date and time of the transfer of possession of the facility to ELMS, which day and time shall be no later on than two business days following the closing of the company blend), and (iii) the securing by ELMS of crucial intellectual property rights associated to its proposed company (collectively, the “Carveout Transaction”). All statements herein pertaining to ELMS’s anticipated business enterprise suppose the completion of the Carveout Transaction. Forum and ELMS do not undertake or take any obligation or endeavor to launch publicly any updates or revisions to any ahead-hunting statements to mirror any improve in their anticipations or any change in functions, problems or instances on which any these kinds of statement is dependent.

Watch supply variation on businesswire.com: https://www.businesswire.com/information/household/20210624006017/en/

Contacts

For Forum Merger III Company
[email protected]

For Electric Final Mile, Inc.
Media: [email protected]
Investors: [email protected]

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