CarLotz, Inc. Closes Company Mixture and Will Trade on the Nasdaq Inventory Exchange Less than the Ticker LOTZ

RICHMOND, Va., Jan. 21, 2021 (World NEWSWIRE) — CarLotz, Inc. (“CarLotz” or the “Company”), a leading consignment-to-retail utilized motor vehicle market, nowadays announced that it has completed its organization combination (the “Business Combination”) with Acamar Associates Acquisition Corp. (“Acamar Partners”) (Nasdaq: ACAM), a publicly-traded specific objective acquisition enterprise. The Company […]

RICHMOND, Va., Jan. 21, 2021 (World NEWSWIRE) — CarLotz, Inc. (“CarLotz” or the “Company”), a leading consignment-to-retail utilized motor vehicle market, nowadays announced that it has completed its organization combination (the “Business Combination”) with Acamar Associates Acquisition Corp. (“Acamar Partners”) (Nasdaq: ACAM), a publicly-traded specific objective acquisition enterprise. The Company Combination was accredited on January 20, 2021 by Acamar Partners’ stockholders. Beginning January 22, 2021, CarLotz’ shares will trade on the Nasdaq International Industry beneath the ticker image “LOTZ.”

Michael Bor, Co-Founder and Chief Executive Officer of CarLotz, explained, “Today marks a further key milestone for CarLotz as we start this future chapter as a general public firm. I couldn’t be far more proud of the CarLotz group currently, together with all our CarLotz alumni, who put their hearts and souls into expanding this company. We would not be exactly where we are now without having our team’s grit, perseverance, target on the guest experience, and adherence to our core values. With our differentiated company product, including the only Consignment-to-Retail Profits System, and the continued execution of our advancement tactics, we are very well positioned to progress our vision of transforming the used vehicle marketplace. We glance ahead to developing on the achievements we have driven to-day, and delivering price for all of our stakeholders.”

Luis Solorzano, Chief Government Officer of Acamar Associates, commented, “We are excited to announce the closing of our business mixture with CarLotz. Michael and his team have proven a established platform for growth that will be even further improved by this mixture. We look forward to viewing the CarLotz workforce capitalize on the near and lengthy-phrase expansion possibilities, as they continue to disrupt the used automobile marketplace, and supporting them in this new chapter.”  

“We are thrilled to see CarLotz attain the financial aid needed to roll out its special retail automotive working experience nationally,” stated Steve Carrel, Handling Director of TRP Money Associates. “The Company’s technology, omni-channel internet marketing and asset-light inventory sourcing model give a very best-in-class expertise for shoppers to acquire, provide, trade or consign vehicles, building a differentiated product to grow its marketplace share more than the very long term.”

The Business Mix was funded by a combination of Acamar Partners’ $311 million funds-in-believe in and $125 million of PIPE proceeds, which was totally fully commited by a pool of institutional and strategic buyers.

For CarLotz, Deutsche Bank Securities served as guide economic and funds marketplaces advisor, Barclays served as economical and capital markets co-advisor, William Blair served as money marketplaces co-advisor and Freshfields Bruckhaus Deringer served as authorized counsel. Acamar Partners’ advisors incorporated Goldman Sachs as sole economic advisor and placement agent for the PIPE, and Simpson Thacher & Bartlett served as legal counsel.

About CarLotz, Inc.

CarLotz is a utilised car or truck consignment and Retail Remarketing™ company that delivers our company vehicle sourcing associates and retail sellers of utilized cars with the ability to entry the beforehand unavailable retail profits channel, although at the same time giving purchasers with prices that are, on normal, down below those of common dealerships. Our mission is to create the world’s biggest vehicle acquiring and offering experience. We operate a technology-enabled shopping for, sourcing and offering model that delivers a seamless omni-channel experience and detailed collection of cars, although allowing for for a absolutely contactless conclude-to-close e-commerce interface that enables no headache getting and offering. Our proprietary Retail Remarketing™ technological innovation presents our corporate auto sourcing companions with authentic-time efficiency metrics and information analytics, together with custom made business intelligence reporting that allows price and vehicle triage optimization between the wholesale and retail channel. By our marketplace product, we produce considerable benefit for the two sellers and consumers via cost, collection and practical experience.

About Acamar Partners Acquisition Corp.

Acamar Associates Acquisition Corp. is a blank test enterprise fashioned for the purpose of effecting a merger, money inventory exchange, asset acquisition, stock acquire, reorganization or very similar business enterprise blend with 1 or more organizations. Acamar Partners Acquisition Corp. raised $305.6 million in its first public featuring in February 2019 (and subsequent work out of the underwriters’ more than-allotment option).

Ahead-Looking Statements

This interaction contains forward-hunting statements inside of the indicating of the Personal Securities Litigation Reform Act of 1995. Generally, forward-hunting statements consist of statements that are not historical information, this kind of as statements concerning feasible or assumed foreseeable future actions, business enterprise techniques, functions or final results of functions, which include statements relating to Acamar Partners’ and CarLotz’ anticipations or predictions of potential economic or business performance or conditions. Ahead-on the lookout statements may perhaps be preceded by, adopted by or include things like the terms “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates” or “intends” or identical expressions.

Ahead-on the lookout statements entail challenges and uncertainties that might result in true functions, final results or functionality to differ materially from those people indicated by these kinds of statements. Selected of these challenges are identified and discussed in Acamar Partners’ Variety 10-K for the 12 months finished December 31, 2019 less than “Risk Factors” in Aspect I, Item 1A and in Acamar Partners’ Variety 10-Q for the quarterly interval ended March 31, 2020, Variety 10-Q for the quarterly interval ended June 30, 2020 and Type 10-Q for the quarterly interval ended September 30, 2020 underneath “Risk Factors” in Section II, Item 1A. These danger factors will be critical to look at in pinpointing potential final results and should be reviewed in their entirety.

In addition to hazards earlier disclosed in Acamar Partners’ reviews filed with the SEC and all those recognized somewhere else in this interaction, the next things, amid others, could cause real final results to differ materially from ahead-looking statements or historic efficiency: failure to know the positive aspects anticipated from the transaction the outcomes of pending and upcoming laws challenges associated to management’s focus on the transaction rather than on the ongoing small business functions of CarLotz business enterprise disruption pursuing the transaction hazards related to Acamar Partners’ or CarLotz’ indebtedness other outcomes connected with mergers, acquisitions and legislative and regulatory actions and reforms threats of the automotive and employed motor vehicle industries the opportunity impression of COVID-19 on the employed motor vehicle field and on the CarLotz business litigation, problems, merchandise legal responsibility promises or adverse publicity the effect of changes in customer paying out designs, shopper choices, regional, regional and national financial conditions, crime, temperature, demographic trends and employee availability new entrants in the consignment-to-retail utilised automobile enterprise technological disruptions, privacy or details breaches, the decline of facts or cyberattacks and the potential to contend properly with new and current sector individuals.

Any fiscal projections in this communication are forward-hunting statements that are centered on assumptions that are inherently subject matter to considerable uncertainties and contingencies, many of which are over and above Acamar Partners’ and CarLotz’ regulate. Even though all projections are always speculative, Acamar Companions and CarLotz consider that the preparation of possible monetary information consists of ever more bigger concentrations of uncertainty the even more out the projection extends from the day of preparation. The assumptions and estimates fundamental the projected final results are inherently uncertain and are subject matter to a vast assortment of sizeable organization, financial and competitive dangers and uncertainties that could cause actual benefits to differ materially from individuals contained in the projections. The inclusion of projections in this communication should not be regarded as an indicator that Acamar Partners and CarLotz, or their associates, deemed or contemplate the projections to be a reputable prediction of upcoming gatherings.

Ahead-wanting statements discuss only as of the date they are made, and Acamar Partners and CarLotz are less than no obligation, and expressly disclaim any obligation, to update, alter or otherwise revise any ahead-looking statement, regardless of whether as a consequence of new facts, long run gatherings or if not, besides as demanded by regulation. Readers should really meticulously assessment the statements set forth in the stories that Acamar Companions has submitted or will file from time to time with the SEC. Forward-hunting statements are expressed in superior faith, and Acamar Partners and CarLotz consider there is a reasonable basis for them. Nevertheless, there can be no assurance that the gatherings, benefits or trends determined in these forward-wanting statements will arise or be reached.

Annualized, pro forma, projected and believed figures are made use of for illustrative intent only, are not forecasts and might not reflect actual results.

This communication is not supposed to be all-inclusive or to incorporate all the info that a human being may perhaps desire in taking into consideration an financial commitment in CarLotz and is not meant to variety the basis of an expense determination in CarLotz. All subsequent written and oral ahead-wanting statements concerning Acamar Partners and CarLotz, the transaction or other issues and attributable to Acamar Associates and CarLotz or any individual performing on their behalf are expressly qualified in their entirety by the cautionary statements higher than.

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Media:

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Della C. Mae

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