Forum Merger III Corp: management transactions · United States · SEC (Form 4)

About Forum Merger III Corp

Forum Merger III Corp was a U.S.-based special purpose acquisition company (SPAC), meaning it was created to complete a merger, acquisition, or similar business combination rather than to run a conventional operating business. The company was incorporated in Delaware on June 25, 2019, and its shares traded on the Nasdaq Capital Market under the symbols FIII, FIIIU, and FIIIW. Its principal executive office was listed in Delray Beach, Florida, United States. For investors, that distinction is important: Forum Merger III Corp was a listed acquisition vehicle, not a legacy industrial business with its own recurring products or services. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1784168/000121390020023092/f424b40820_forummerger3.htm?utm_source=openai)) The company’s business model was straightforward and typical for the SPAC universe. It raised capital in an initial public offering, placed the proceeds in trust, and then sought a target company to bring public through a business combination. Forum Merger III Corp was not limited to any single industry in selecting a target, although its disclosures emphasized that it had no operating revenues prior to closing a transaction. In other words, its value proposition was financial and transactional: sponsor credibility, access to capital, and execution of a public-to-public or private-to-public combination. That model made the company especially relevant to investors analyzing Nasdaq-listed blank-check structures and associated insider filings such as Form 4 reports. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1784168/000121390020023092/f424b40820_forummerger3.htm?utm_source=openai)) Forum Merger III Corp is most notable for its combination with Electric Last Mile, Inc., an electric-vehicle company. The merger agreement was announced in late 2020 and subsequently completed in June 2021, after which the listed entity changed its name to Electric Last Mile Solutions, Inc. This means that Forum Merger III Corp’s corporate history is effectively the pre-closing SPAC phase of a larger EV transaction. From a market-position perspective, the company did not compete through branded products or services; rather, it competed in the highly competitive SPAC market by sourcing a credible target and offering public-market access. Its IPO raised roughly $250 million, which provided a meaningful trust pool for a mid-sized SPAC transaction. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1784168/000121390020023092/f424b40820_forummerger3.htm?utm_source=openai)) In recent history, the key development was the transition from Forum Merger III Corp into the post-merger Electric Last Mile Solutions platform. For investors reviewing SEC Form 4 insider transactions, the main analytical takeaway is that the issuer’s economics and strategic profile changed materially after the business combination closed. As a result, any description of Forum Merger III Corp should be framed as a SPAC lifecycle story: incorporation in 2019, Nasdaq listing in 2020, target announcement and merger execution in 2020–2021, and conversion into an operating EV business upon closing. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1784168/000121390021029665/prer14a2_forummerger3.htm?utm_source=openai))