Discussion board Merger III Company Management Workforce Purchases $4.9 Million of Discussion board III Shares on Open up Current market

DELRAY Seashore, Fla. & TROY, Mich.–(Enterprise WIRE)–Discussion board Merger III Corporation (Nasdaq: FIII, FIIIU, FIIIW) (“Forum” or the “Company”) and Electrical Final Mile, Inc. (“ELMS”) right now introduced that Forum’s administration team purchased close to $4.9 million, or 500,000 shares, of Forum’s frequent inventory on the open up marketplace.

This supplemental financial commitment in Discussion board ahead of our company mixture with Electric Very last Mile, Inc. is a testament to our self confidence in ELMS’ upcoming as a chief in the professional electric auto sector,” reported a member of the Forum management group. “With an predicted 1st-mover edge and seasoned management crew, we imagine ELMS is strongly positioned to redefine the final mile field and we appear ahead to supporting their efforts. As we method the shut of the small business mixture, we keep on to be excited for the future of ELMS.”

Discussion board will keep a unique meeting of its stockholders on June 24, 2021 to approve its proposed small business mix with ELMS. If the enterprise blend is authorised, the merged organization will be named Electric Very last Mile Alternatives, Inc. and the common stock of Electrical Very last Mile Solutions, Inc. will keep on to be listed on the Nasdaq Cash Marketplace underneath the new ticker image “ELMS.”

About Discussion board Merger III Corporation

Forum Merger III Company (NASDAQ: FIII, FIIIU, FIIIW) is a blank check company fashioned for the reason of entering into a merger, money inventory exchange, asset acquisition, inventory invest in, reorganization or comparable company mix with 1 or additional businesses. Forum’s mandate is to think about an preliminary organization blend target in any business enterprise or business and it centered its look for on firms with an aggregate enterprise value of around $500 million to $2 billion that are centered in the United States. Forum is led by Co-Chief Govt Officers Marshall Kiev and David Boris.

About Electrical Past Mile, Inc.

ELMS is centered on redefining the final mile with economical, connected and customizable answers. ELMS’ 1st vehicle, the City Supply, is expected to be the initially Course 1 business electric powered automobile in the U.S. market place. The firm is headquartered in Troy, Michigan. For a lot more information, please stop by www.electriclastmile.com or Twitter @ELMSolutions.

Forward-Looking Statements

This push release includes “forward-looking statements” within just the which means of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Discussion board Merger III Corporation’s (“Forum”) and ELMS’s actual outcomes may possibly differ from their expectations, estimates and projections and therefore, you need to not rely on these forward-hunting statements as predictions of future gatherings. Phrases such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and identical expressions are intended to determine this sort of ahead-searching statements. These ahead-on the lookout statements involve, without the need of limitation, Forum’s and ELMS’s expectations with regard to foreseeable future overall performance and predicted monetary impacts of the previously announced enterprise mix of Forum and ELMS (the “business combination”), the satisfaction of the closing ailments to the organization mixture, the dimensions, calls for and development potential of the markets for ELMS’s solutions and ELMS’s ability to serve those people markets, ELMS’s skill to create impressive products and compete with other organizations engaged in the business shipping and delivery car market and/or the electric powered car business, ELMS’s capacity to attract and retain consumers, the believed go to sector timing and price tag for ELMS’s products and solutions, the implied valuation of ELMS and the timing of the completion of the organization combination. These forward-looking statements involve substantial challenges and uncertainties that could trigger the precise results to vary materially from the predicted outcomes. Most of these factors are outside Forum’s and ELMS’s control and are tricky to predict. Components that might trigger these kinds of differences contain, but are not restricted to: (1) the occurrence of any function, transform or other circumstances that could give increase to the termination of the arrangement and approach of merger (“Merger Agreement”) relating to the business enterprise mix or could or else result in the company mixture to are unsuccessful to close (2) the inability of ELMS to consummate the Carveout Transaction (as outlined beneath) (3) the final result of any lawful proceedings that may possibly be instituted from Discussion board or ELMS pursuing the announcement of the organization mixture (4) the incapability to complete the organization blend, which includes due to failure to obtain acceptance of the stockholders of Discussion board or other conditions to closing in the Merger Settlement (5) the receipt of an unsolicited offer you from yet another party for an substitute company transaction that could interfere with the company mix (6) the lack of ability to receive the listing of the frequent inventory of the publish-acquisition company on the Nasdaq Stock Current market or any alternative countrywide securities trade adhering to the enterprise combination (7) the risk that the announcement and consummation of the small business mixture disrupts present-day options and operations (8) the inability to understand the predicted positive aspects of the company combination, which may well be influenced by, amongst other things, opposition and the capability of the put together organization to develop and take care of advancement profitably and keep its vital staff members (9) fees linked to the business combination (10) alterations in applicable laws or restrictions (11) the probability that ELMS might be adversely influenced by other financial, business, and/or competitive variables (12) the affect of COVID-19 on the mixed company’s business and (13) other risks and uncertainties indicated from time to time in the proxy statement submitted relating to the small business mix, which include all those below the “Risk Factors” portion therein, and in Forum’s other filings with the SEC. Some of these hazards and uncertainties may possibly in the potential be amplified by the COVID-19 outbreak and there may perhaps be further threats that Discussion board and ELMS take into consideration immaterial or which are unknown. Discussion board and ELMS caution that the foregoing listing of components is not exclusive. Forum and ELMS caution readers not to area undue reliance on any forward-searching statements, which discuss only as of the date created. ELMS is presently engaged in confined functions only and its means to have out its company ideas and strategies in the future are contingent upon the closing of the enterprise mix. The consummation of the organization mixture is issue to, amid other disorders, (i) the efficiency of selected agreements amongst ELMS and SF Motors, Inc. (d/b/a SERES) (“SERES”), (ii) the acquisition by ELMS of a leasehold desire in, or cost simple title to, the Indiana production facility prior to the company mixture (furnished that Discussion board has agreed that this ailment will be waived on supply by ELMS of evidence of the mutual created arrangement 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 enterprise days pursuing the closing of the business blend), and (iii) the securing by ELMS of essential mental property rights connected to its proposed business (collectively, the “Carveout Transaction”). All statements herein concerning ELMS’s expected enterprise believe the completion of the Carveout Transaction. Discussion board and ELMS do not undertake or take any obligation or undertaking to release publicly any updates or revisions to any ahead-searching statements to reflect any adjust in their anticipations or any transform in occasions, conditions or situations on which any such statement is dependent.

Significant Data About the Organization Combination and Where by to Uncover It

In connection with the business enterprise combination, Forum submitted a definitive proxy assertion with the U.S. Securities and Exchange Fee (“SEC”). Forum’s stockholders and other fascinated persons are recommended to examine the definitive proxy assertion in relationship with Forum’s solicitation of proxies for the Special Assembly to be held to approve, between other issues, the company mixture, since these paperwork consist of crucial details about Forum, ELMS and the small business combination. The definitive proxy assertion for the enterprise mixture was mailed to stockholders of Discussion board as the Report Date. Forum’s stockholders could also get a duplicate of the definitive proxy assertion, as nicely as other files filed with the SEC by Forum, without charge, at the SEC’s website positioned at www.sec.gov or by directing a ask for to: Discussion board Merger III Corporation, 1615 South Congress Avenue, Suite 103, Delray Seaside, FL 33445. The info contained on, or that may well be accessed by, the internet websites referenced in this push release is not included by reference into, and is not a portion of, this press launch.

Individuals in the Solicitation

Forum and its directors and govt officers may well be viewed as participants in the solicitation of proxies with respect to the company mixture. Information and facts about the directors and govt officers of Discussion board and a description of their pursuits in Forum are established forth in the definitive proxy assertion, which was filed with the SEC, in relationship with the proposed business enterprise blend. These files can be received totally free of charge from the resources indicated earlier mentioned. ELMS and its directors and govt officers may possibly also be considered to be contributors in the solicitation of proxies from the stockholders of Forum in relationship with the small business combination. A checklist of the names of these kinds of administrators and executive officers and details concerning their pursuits in the organization mix are set forth in the definitive proxy statement, which was filed with the SEC, in link with the proposed company mixture. These files can be obtained free of demand from the sources indicated higher than.