Replies to post #88483 on Savvy Trades and Investments

[value1008]

ELMS - hopefully today was the start of a nice recovery after the two-day selloff.

ELMS' IR contact Erik Grossman emailed me today with some answers to my Qs, saying that with the $268M cash infusion from the merger (after subtracting $26M for banking & legal transaction costs, not my posited figure of $21M), ELMS has $108M more than the $160M needed to fulfill its business plan as outlined in the lengthy SEC proxy document. He further stated:

"There are a couple ways to think about our launch requirements. If you add up the CapEx numbers in the deck through 2025 you get the ~$200m figure. We have stated that we need $160m to execute the business plan laid out – this assumes the cash flow break even in Q4 2022. That is the number James [CEO James Taylor] typically refers to. In summary, we believe we have sufficient capital to execute the business plan laid out in the merger. We’re thrilled to have finally closed and are focused on execution."

[researcher59]

PSAC -.25 to 13.63, yet another EV company going public via the SPAC route .... will be trading as FFIE once the merger completes after the vote on 7/20 -

https://psacspac.com/home/default.aspx#press-releases