CarLotz, Inc. Closes Business enterprise Blend and Will Trade on the Nasdaq Inventory Trade Beneath the …

RICHMOND, Va., Jan. 21, 2021 (World NEWSWIRE) — CarLotz, Inc. (“CarLotz” or the “Company”), a main consignment-to-retail employed auto market, now declared that it has finished its business blend (the “Business Combination”) with Acamar Companions Acquisition Corp. (“Acamar Partners”) (Nasdaq: ACAM), a publicly-traded particular objective acquisition enterprise. The Enterprise Mix was authorised on January 20, 2021 by Acamar Partners’ stockholders. Beginning January 22, 2021, CarLotz’ shares will trade on the Nasdaq Global Market place beneath the ticker symbol “LOTZ.”

Michael Bor, Co-Founder and Chief Government Officer of CarLotz, claimed, “Today marks yet another major milestone for CarLotz as we get started this upcoming chapter as a general public company. I couldn’t be extra happy of the CarLotz group right now, including all our CarLotz alumni, who set their hearts and souls into growing this organization. We would not be where by we are nowadays without the need of our team’s grit, determination, target on the guest expertise, and adherence to our main values. With our differentiated business enterprise product, such as the only Consignment-to-Retail Sales Platform, and the continued execution of our development tactics, we are effectively positioned to progress our eyesight of transforming the utilised car field. We seem forward to setting up on the accomplishment we have pushed to-day, and offering price for all of our stakeholders.”

Luis Solorzano, Chief Government Officer of Acamar Partners, commented, “We are thrilled to announce the closing of our small business combination with CarLotz. Michael and his staff have set up a proven platform for progress that will be additional increased by this mixture. We glance forward to observing the CarLotz group capitalize on the close to and long-expression advancement chances, as they carry on to disrupt the used auto sector, and supporting them in this new chapter.”  

“We are thrilled to see CarLotz get the economical assist essential to roll out its unique retail automotive practical experience nationally,” stated Steve Carrel, Managing Director of TRP Capital Partners. “The Company’s engineering, omni-channel advertising and asset-light-weight stock sourcing product present a ideal-in-class experience for customers to invest in, sell, trade or consign motor vehicles, developing a differentiated model to develop its market place share above the long phrase.”

The Business enterprise Mix was funded by a mix of Acamar Partners’ $311 million funds-in-rely on and $125 million of PIPE proceeds, which was totally fully commited by a pool of institutional and strategic traders.

For CarLotz, Deutsche Bank Securities served as direct monetary and money markets advisor, Barclays served as financial and money marketplaces co-advisor, William Blair served as capital markets co-advisor and Freshfields Bruckhaus Deringer served as lawful counsel. Acamar Partners’ advisors integrated Goldman Sachs as sole fiscal advisor and placement agent for the PIPE, and Simpson Thacher & Bartlett served as authorized counsel.

About CarLotz, Inc.

CarLotz is a applied automobile consignment and Retail Remarketing™ organization that presents our corporate auto sourcing partners and retail sellers of utilized automobiles with the ability to obtain the earlier unavailable retail revenue channel, although at the same time supplying purchasers with charges that are, on common, underneath those of conventional dealerships. Our mission is to make the world’s finest car or truck getting and promoting expertise. We run a technological know-how-enabled getting, sourcing and marketing product that gives a seamless omni-channel encounter and detailed choice of autos, whilst allowing for for a totally contactless finish-to-stop e-commerce interface that allows no hassle obtaining and advertising. Our proprietary Retail Remarketing™ technological innovation provides our corporate car or truck sourcing partners with actual-time overall performance metrics and information analytics, together with tailor made small business intelligence reporting that permits rate and automobile triage optimization involving the wholesale and retail channel. Through our marketplace product, we crank out sizeable benefit for both equally sellers and prospective buyers by way of selling price, choice and expertise.

About Acamar Associates Acquisition Corp.

Acamar Partners Acquisition Corp. is a blank examine enterprise formed for the intent of effecting a merger, cash inventory trade, asset acquisition, stock acquire, reorganization or equivalent organization combination with just one or much more businesses. Acamar Companions Acquisition Corp. elevated $305.6 million in its original general public featuring in February 2019 (and subsequent physical exercise of the underwriters’ around-allotment selection).

Forward-Hunting Statements

This conversation includes ahead-seeking statements in the which means of the Private Securities Litigation Reform Act of 1995. Typically, ahead-seeking statements include things like statements that are not historical specifics, this kind of as statements concerning achievable or assumed potential steps, small business strategies, gatherings or effects of functions, including statements with regards to Acamar Partners’ and CarLotz’ expectations or predictions of potential financial or enterprise general performance or problems. Ahead-looking statements may be preceded by, adopted by or contain the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates” or “intends” or comparable expressions.

Forward-on the lookout statements involve pitfalls and uncertainties that may possibly trigger real functions, effects or efficiency to vary materially from these indicated by these types of statements. Sure of these dangers are identified and mentioned in Acamar Partners’ Type 10-K for the yr finished December 31, 2019 underneath “Risk Factors” in Part I, Item 1A and in Acamar Partners’ Sort 10-Q for the quarterly period ended March 31, 2020, Variety 10-Q for the quarterly period of time finished June 30, 2020 and Sort 10-Q for the quarterly interval finished September 30, 2020 under “Risk Factors” in Portion II, Item 1A. These threat things will be crucial to look at in analyzing foreseeable future results and need to be reviewed in their entirety.

In addition to threats previously disclosed in Acamar Partners’ experiences filed with the SEC and these recognized in other places in this communication, the pursuing factors, among the others, could cause genuine success to differ materially from forward-searching statements or historical performance: failure to realize the benefits anticipated from the transaction the consequences of pending and long run legislation threats associated to management’s target on the transaction alternatively than on the ongoing enterprise functions of CarLotz small business disruption next the transaction risks linked to Acamar Partners’ or CarLotz’ indebtedness other implications affiliated with mergers, acquisitions and legislative and regulatory actions and reforms risks of the automotive and utilised car industries the probable impression of COVID-19 on the utilized automobile market and on the CarLotz enterprise litigation, complaints, products liability claims or adverse publicity the impact of improvements in consumer spending patterns, buyer preferences, area, regional and national financial situations, crime, weather, demographic tendencies and employee availability new entrants in the consignment-to-retail made use of vehicle business enterprise technological disruptions, privacy or info breaches, the decline of info or cyberattacks and the capacity to compete efficiently with new and existing marketplace individuals.

Any financial projections in this communication are forward-hunting statements that are based on assumptions that are inherently subject matter to major uncertainties and contingencies, many of which are beyond Acamar Partners’ and CarLotz’ regulate. Although all projections are automatically speculative, Acamar Associates and CarLotz consider that the planning of prospective economical details consists of ever more increased concentrations of uncertainty the even further out the projection extends from the day of planning. The assumptions and estimates underlying the projected results are inherently uncertain and are topic to a vast variety of important company, financial and aggressive threats and uncertainties that could cause true benefits to vary materially from those people contained in the projections. The inclusion of projections in this interaction need to not be regarded as an indicator that Acamar Companions and CarLotz, or their associates, thought of or contemplate the projections to be a trusted prediction of foreseeable future activities.

Forward-on the lookout statements speak only as of the date they are created, and Acamar Associates and CarLotz are less than no obligation, and expressly disclaim any obligation, to update, alter or or else revise any forward-seeking statement, regardless of whether as a outcome of new facts, upcoming events or normally, except as expected by law. Readers should really carefully assessment the statements set forth in the stories that Acamar Companions has submitted or will file from time to time with the SEC. Forward-wanting statements are expressed in superior faith, and Acamar Associates and CarLotz think there is a reasonable basis for them. Nevertheless, there can be no assurance that the activities, results or tendencies determined in these ahead-wanting statements will arise or be achieved.

Annualized, professional forma, projected and approximated numbers are utilized for illustrative purpose only, are not forecasts and may possibly not replicate actual success.

This conversation is not supposed to be all-inclusive or to contain all the details that a man or woman may possibly motivation in looking at an financial commitment in CarLotz and is not supposed to variety the foundation of an financial investment determination in CarLotz. All subsequent penned and oral ahead-hunting statements regarding Acamar Partners and CarLotz, the transaction or other issues and attributable to Acamar Companions and CarLotz or any human being acting on their behalf are expressly skilled in their entirety by the cautionary statements previously mentioned.

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Rachel C. Carpenter

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