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Forum Merger III Corporation and Electric Last Mile, Inc. Remind Stockholders to Vote to Approve Business Combination

Forum Merger III Corporation and Electric Last Mile, Inc. Remind Stockholders to Vote to Approve Business Combination
benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.

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Electric Last Mile Working with Cox Automotive to Prepare for Commercial EV Fleet Service Future

Press release content from Business Wire. The AP news staff was not involved in its creation.
Electric Last Mile Working with Cox Automotive to Prepare for Commercial EV Fleet Service Future
May 3, 2021 GMT
TROY, Mich. & ATLANTA (BUSINESS WIRE) May 3, 2021
Electric Last Mile, Inc. (“ELMS” or “the Company”), a pure-play commercial electric vehicle (“EV”) company focused on last mile delivery solutions, and Cox Automotive Inc. (“Cox Automotive”), among the largest automotive services providers in the world, today announced a new collaboration working towards delivering a more comprehensive service and support ecosystem for ELMS’ Urban Delivery EV customers. ELMS expects to begin production of the Urban Delivery by the end of the third quarter of 2021, making it the anticipated first commercial Class 1 EV officially available in the U.S. market. ....

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Electric Last Mile and Forum Merger III Corporation Announce Board of Director Nominees for Post-Combination Company

Press release content from Business Wire. The AP news staff was not involved in its creation.
Electric Last Mile and Forum Merger III Corporation Announce Board of Director Nominees for Post-Combination Company
January 25, 2021 GMT
TROY, Mich. & DELRAY BEACH, Fla. (BUSINESS WIRE) Jan 25, 2021
Electric Last Mile, Inc. (ELMS), a commercial electric vehicle (EV) solutions company, and Forum Merger III Corporation (NASDAQ: FIII, FIIIU, FIIIW) (Forum) today announced the nominees for the board of directors of the combined company that will result from the previously announced combination of Forum, a special purpose acquisition company, and ELMS. The director nominees bring decades of leadership across the technology, mobility and commercial delivery sectors. Following the proposed business combination, the common stock of the post-combination company is expected to continue to be listed on The Nasdaq Stock Market. ....

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Warning to Directors of Selling Companies: Breach of Fiduciary Duty Liability May Exist for Failure to Investigate and Ensure Solvency of Company Post-Closing and Propriety and Effect of All Related Transactions (But You Can Protect Yourself) | Weil, Gotshal & Manges LLP

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A recent ruling from the United States District Court for the Southern District of New York sent shock waves through the legal and financial community, with some shouting that this “could be a gamestopper for the private equity business.”
1 Although the ruling in
In re Nine West LBO Securities Litigation
2 breaks new ground and arguably narrows the protections available to directors under the normally-broad business judgment rule, there are clear lessons others can take from this saga to prevent a similar fate.
The headline issue that has people up in arms is the court’s holding that directors of a selling corporation may lose the benefit of the business judgment rule and be held liable, under a breach of fiduciary duty theory, for not undertaking a reasonable investigation into the company’s post-sale solvency and the propriety and effect of any contemplated post-closing transactions that co ....

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Electric Last Mile Offered Incentives by the Indiana Economic Development Corporation for Local Manufacturing

Electric Last Mile Offered Incentives by the Indiana Economic Development Corporation for Local Manufacturing
businesswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesswire.com Daily Mail and Mail on Sunday newspapers.

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