Law360 (October 22, 2020, 1:43 PM EDT) -- Freshfields-advised CarLotz, a private equity-backed used vehicle retailer, has agreed to merge with Simpson Thacher-counseled blank-check company Acamar Partners Acquisition Corp. in a deal that values CarLotz at about $827 million, the companies said Thursday.
The transaction will result in a single entity called CarLotz Inc. that will have an enterprise value of roughly $827 million and will trade on the Nasdaq under the ticker symbol "Lotz," according to a statement.
Richmond, Virginia-based CarLotz boasts being one of the world's largest privately held used vehicle "retail disruptors," with a consignment-to-retail sales platform it says is novel in the industry. CarLotz provides...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!