Forum Merger III (OTCMKTS:FIIIU) Shares Up 2.9% – Here’s Why

by · The Markets Daily

Forum Merger III Co. (OTCMKTS:FIIIU – Get Free Report) shares traded up 2.9% during mid-day trading on Thursday. The stock traded as high as $11.40 and last traded at $11.11. 2,400 shares changed hands during trading, a decline of 82% from the average daily volume of 13,006 shares. The stock had previously closed at $10.80.

Forum Merger III Stock Up 2.9%

The company has a 50 day simple moving average of $11.11 and a two-hundred day simple moving average of $11.11.

About Forum Merger III

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Forum Merger III Corp. was a special purpose acquisition company (SPAC) formed to identify and combine with an operating business. Like other blank-check companies, it did not conduct significant operating activities or offer products and services of its own before completing a business combination.

Forum Merger III announced an agreement to merge with Electric Last Mile, Inc, a developer of electric commercial vehicles. The transaction was completed in 2021, and the combined company operated as Electric Last Mile Solutions, Inc Electric Last Mile focused on electric delivery vans and related commercial transportation solutions for customers primarily in North America.

Following the transaction, Forum Merger III no longer operated as an independent acquisition vehicle.

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