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How to buy Electric Last Mile (ELMS) stock when it goes public

Here's everything we know so far about the Electric Last Mile IPO.

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Dawn Daniels
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Headquartered in Auburn Hills, Michigan, Electric Last Mile develops electric last-mile delivery vehicles. The company caters to the last-mile e-commerce segment with its urban delivery vans.

What we know about the Electric Last Mile IPO

Electric vehicle production company Electric Last Mile is planning to go public through a merger with a special purpose acquisition company (SPAC), also known as a blank check company. SPACs are companies with no commercial operations that exist purely to raise capital through IPOs. The deal is expected to close in the third quarter of 2021.

The SPAC, Forum Merger III Corporation, originally went public in December 2020. After the merger, the company will trade on the Nasdaq under the ticker "ELMS."

How to buy shares in Electric Last Mile when it goes public

Once Electric Last Mile goes public, you'll need a brokerage account to invest. Consider opening a brokerage account today so you're ready as soon as the stock hits the market.

  1. Compare share trading platforms. Use our comparison table to help you find a platform that fits you.
  2. Open your brokerage account. Complete an application with your details.
  3. Confirm your payment details. Fund your account.
  4. Research the stock. Find the stock by name or ticker symbol – ELMS – and research it before deciding if it's a good investment for you.
  5. Purchase now or later. Buy your desired number of shares with a market order or use a limit order to delay your purchase until the stock reaches a desired price.

How do similar companies perform?

It's impossible to predict how any stock will perform — and IPOs can be particularly volatile. But evaluating the performance of companies like Electric Last Mile can be useful in determining how the market is performing and whether now is a good time to invest in this industry. Select a company to learn more about what they do and how their stock performs, including market capitalization, the price-to-earnings (P/E) ratio, price/earnings-to-growth (PEG) ratio and dividend yield. While this list includes a selection of the most well-known and popular stocks, it doesn't include every stock available.

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