Electric Last Mile Solutions Inc (ELMSQ)

[value1008]

Yeah, it will be good to know just how much cash actually came into the coffers from the FIII merger. I'm assuming a redemption rate of around 30%, leaving about $175M in cash, and then further subtracting, what, about $21M for all the legal & other middleman fees?

That $175M plus the $150M from the PIPE would make for a really nice $325M or so in cash.

As i recall, they only need $200M to launch both the Urban Delivery van and next year's Urban Utility truck cab.

Anyone please correct me with better numbers if you have them....

Btw, today's disappointing trading looks to me (speculation here) like short positions were placed over past several days and weeks by hedge fund and/or PIPE investors who then profited by unloading some shares. What a manipulation. Down the road none of this game-playing with FIII / ELMS will matter.... But it's ridiculous to watch. Never thought the bozos could stage a bear-raid to crash ELMS back down below the 50dma, but stranger things have happened. Presently the stock is trading between its 50dma (10.01) and its 20dma / mid-Bollinger band (10.13).