Albert Li - Jun 25, 2021 Form 3 Insider Report for Electric Last Mile Solutions, Inc. (ELMSQ)

Role
CFO & Treasurer
Signature
/s/ Benjamin Wu, attorney-in-fact for Albert Li
Stock symbol
ELMSQ
Transactions as of
Jun 25, 2021
Transactions value $
$0
Form type
3
Date filed
6/29/2021, 05:22 PM
Next filing
Sep 1, 2021

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding ELMSQ Convertible Note Jun 25, 2021 Common Stock 88.1K by Li Management and Consulting LLC F1, F2
holding ELMSQ Convertible Note Jun 25, 2021 Common Stock 22K by H and L Reunion Investments LLC F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On December 10, 2020, Electric Last Mile, Inc. ("ELM") entered into a $800,000 Convertible Note with Li Management and Consulting LLC. The reporting person is the beneficial owner of the Convertible Note issued to Li Management and Consulting LLC. Pursuant to the terms of the Convertible Note, upon the closing of the transaction contemplated pursuant to the Agreement and Plan of Merger, dated as of December 10, 2020, by and among Forum Merger III Corporation ("Forum") (upon consummation of the business combination, the surviving "Issuer" is renamed "Electric Last Mile Solutions, Inc."), ELMS Merger Corp., a wholly owned subsidiary of Forum, and ELM, as amended, the Convertible Note will be converted into shares of common stock of Electric Last Mile Solutions, Inc.
F2 The reporting person is the sole member of Li Management and Consulting LLC, and as such has sole voting and investment power with respect to the common stock held by Li Management and Consulting LLC.
F3 On December 10, 2020, Electric Last Mile, Inc. ("ELM") entered into a $200,000 Convertible Note with H and L Reunion Investments LLC. The reporting person is the beneficial owner of the Convertible Note issued to H and L Reunion Investments LLC. Pursuant to the terms of the Convertible Note, upon the closing of the transaction contemplated pursuant to the Agreement and Plan of Merger, dated as of December 10, 2020, by and among Forum Merger III Corporation ("Forum") (upon consummation of the business combination, the surviving "Issuer" is renamed "Electric Last Mile Solutions, Inc."), ELMS Merger Corp., a wholly owned subsidiary of Forum, and ELM, as amended, the Convertible Note will be converted into shares of common stock of Electric Last Mile Solutions, Inc.
F4 The reporting person and Gary Heald have shared voting and investment power with respect to the common stock held by H and L Reunion Investments LLC. Accordingly, the reporting person and Mr. Heald may be deemed to have beneficial ownership of the common stock held by H and L Reunion Investments LLC.