Acamar Partners Acquisition Corp. Announces Business Combination with CarLotz
10.22.20
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The Firm recently represented Acamar Partners Acquisition Corp., a publicly traded special purpose acquisition company, in its announced business combination with CarLotz, Inc., one of the largest privately-held used vehicle retailers, with a business model based on consignment-to-retail sales platform. The transaction will be fully funded by a combination of remaining cash-in-trust after giving effect to redemptions from existing stockholders and $125 million from PIPE investors. The transaction is expected to close in the fourth quarter of 2020.
The Simpson Thacher team includes Jaime Mercado, Borja Marcos, Jean Y. Park, Alexander González Castillo and Laura Ribero (Corporate); Russel Light, Sarah H. Katz and Suzy Yaster (Tax); and Jamin R. Koslowe and Caitlin Lucey (Employee Benefits).