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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.
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."
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.
It's impossible to predict how any stock will perform — and IPOs can be particularly volatile. Looking at the performance of similar companies can help you decide if now is a good time to buy Electric Last Mile stock.See how the following stocks are performing, and view details like market capitalization, the price-to-earnings (P/E) ratio, price/earnings-to-growth (PEG) ratio and dividend yield.
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