Directors and executives of Acamar Partners and CarLotz are soliciting proxies from the stockholders of Acamar Partners in connection with the proposed merger. Fidelity Management & Research Company LLC and other key investors along with strategic partners including KAR Global (NYSE: KAR, the parent company of ADESA and TradeRev), McLarty Diversified Holdings (founded by Franklin McLarty, former CEO of one of the largest U.S. automotive dealership groups), Rick Wagoner (the former CEO of General Motors) and TRP Capital Partners (existing investor and leading private equity fund in the transportation sector) have committed to invest $125 million in the form of a common stock PIPE at $10.00 per share. Acamar Partners and CarLotz Co-Founder and Chief Executive Officer Michael Bor are also participating in the PIPE. Strategic investors and management represent about 15% of the PIPE. Read more.
Related Posts
Roth CH Acquisition V Wins Extra 6 Months, Though Redemptions Hit Hard
Nearly 9 million shares were redeemed ahead of the vote. The SPAC sold 10 million shares in its December 2021 IPO.
PepperLime Health Acquisition Mulls Sale of Sponsor Stake as Alternative to Liquidation
PepperLime missed its original completion deadline in January and had said that Feb. 7 would be the last day its shares would trade on the Nasdaq.
Artius Acquisition Secures $30M Backstop to Support Origin Materials Deal
A shareholder vote on the merger is set for June 23.
Keter1 Acquisition Files for $250M IPO
The new SPAC is focused on technology companies in Israel, launched by Israeli founders, and/or with significant operations in Israel, or significant Israeli investors.