EX-5.1 3 ea146556ex5-1_electriclast.htm OPINION OF FOLEY & LARDNER LLP

Exhibit 5.1

 

 

ATTORNEYS AT LAW

 

111 Huntington Avenue

Boston, Massachusetts 02199

617.342.4000 TEL

617.342.4001 FAX

www.foley.com

 

CLIENT/MATTER NUMBER

126877-0113

 

August 30, 2021

 

Electric Last Mile Solutions, Inc.

1055 W. Square Lake Road

Troy, Michigan 48098

 

Re:Electric Last Mile Solutions, Inc. 2020 Incentive Plan

 

Ladies and Gentlemen:

 

We have acted as counsel for Electric Last Mile Solutions, Inc., a Delaware corporation (the “Company”), in connection with the preparation of a Registration Statement on Form S-8 (the “Registration Statement”) filed by the Company with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the “Securities Act”), relating to 29,200,000 shares of common stock, par value $0.0001 per share, of the Company (the “Shares”) that may be issued pursuant to the Electric Last Mile Solutions, Inc. 2020 Incentive Plan (the “Plan”).

 

In connection with our representation, we have examined: (i) the Plan; (ii) the Registration Statement; (iii) the Third Amended and Restated Certificate of Incorporation of the Company; (iv) the Amended and Restated Bylaws of the Company; (v) resolutions of the Board of Directors of the Company relating to the Plan and the issuance of the Shares thereunder; and (vi) such other documents and records as we have deemed necessary to enable us to render this opinion. In our examination of the above-referenced documents, we have assumed the genuineness of all signatures, the authenticity of all documents, certificates, and instruments submitted to us as originals and the conformity with the originals of all documents submitted to us as copies.

 

We express no opinion herein as to the laws of any state or jurisdiction other than the General Corporation Law of the State of Delaware and the federal laws of the United States of America. This opinion is being furnished in connection with the requirements of Item 601(b)(5) of Regulation S-K under the Securities Act, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statement or the prospectus that forms a part thereof, other than as expressly stated herein with respect to the issuance of the Shares.

 

Based upon and subject to the foregoing, we are of the opinion that the Shares covered by the Registration Statement, when issued and paid for pursuant to the terms and conditions of the Plan, and as contemplated by the Registration Statement, will be validly issued, fully paid and nonassessable.

 

AUSTIN

Boston

CHICAGO

dallas

DENVER

DETROIT

houston

JACKSONVILLE

LOS ANGELES

MADISON

MEXICO CITY

MIAMI

MILWAUKEE

NEW YORK

ORLANDO

SACRAMENTO

SAN DIEGO

SAN FRANCISCO

SILICON VALLEY

TALLAHASSEE

TAMPA

WASHINGTON, D.C.

BRUSSELS

TOKYO

 

 

 

 

August 30, 2021
Page 2

 

We hereby consent to the use of this opinion letter as an exhibit to the Registration Statement and to the reference to our firm in the Registration Statement. In giving our consent, we do not admit that we are “experts” within the meaning of Section 11 of the Securities Act or within the category of persons whose consent is required by Section 7 of the Securities Act.

 

  Very truly yours,
   
  /s/ FOLEY & LARDNER LLP
   
  FOLEY & LARDNER LLP