Acamar Partners Acquisition to merge with CarLotz in a $827m deal.

Acamar Partners Acquisition, a special purpose acquisition company, agreed to merge with CarLotz, a vehicle retailer, in an $827m deal. At closing, anticipated in the fourth quarter of 2020, the combined company will be named CarLotz, and is expected to remain listed on Nasdaq and trade under the new ticker symbol LOTZ. "We are thrilled to bring CarLotz and Acamar Partners together as one company, adding more fuel to the fire that we built when founding the business in 2011. We pioneered the Retail RemarketingTM industry by creating a system for corporate sellers of vehicles to access the retail market. Our technology, omni-channel marketing and asset-light inventory sourcing model allows consumers to buy, sell, trade or consign vehicles online or in-person, creating a unique model to capture market share over the long term," Michael Bor, CarLotz Co-Founder and Chief Executive Officer.