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
Osprey Technology Acquisition II Pulls Plug on $325M IPO
Osprey II had planned to target companies engaged in disruptive technology.
KludeIn I Files Investor Presentation on Near Intelligence Deal
The SPAC in December lowered the value of the deal with Near from $675 million (plus the aggregate amount of any equity financing) to $575 million, a reduction of nearly 15%. In return, the SPAC’s sponsor will forfeit 237,500 founder’s shares.
BurTech Acquisition Files for $250M IPO
The new SPAC will target a business that participates within the retail, lifestyle, hospitality, technology or real estate markets.
DHC Acquisition Inks Non-Redemption Agreement Covering 400K Shares
The SPAC in January abandoned a deal with now-defunct GloriFi. Announcement of the deal termination was merely a formality, as GloriFi, a neobank that billed itself as a bank for the “anti-woke,” announced in November that it would shut down just two months after its launch.