CarLotz, a consignment-to-retail used vehicle marketplace, announced today that stockholders approved the proposed merger with Acamar Partners Acquisition . The closing of the proposed merger is still subject to approval by Acamar stockholders on Jan. 20.
As part of the merger, CarLotz equityholders will receive net consideration representing an enterprise value of $750 million, comprised of $33 million in cash payable to CarLotz equityholders, $37 million in cash payable to the holder of CarLotz preferred stock as liquidation preference amount and $680 million payable in newly issued shares of Acamar Partners Class A common stock at a price of $10 per share. Read more.
