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Wednesday, December 7, 2022

Equity Corporate Actions Alert #2022 - 412
(UPDATED: Merger Effective) Information Regarding the Merger of CarLotz, Inc. (LOTZ/W) and Shift Technologies, Inc. (SFT)

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  • Industry Announcement

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At a special meeting held on December 7, 2022, shareholders of CarLotz, Inc. (LOTZ/W) approved the merger with and into Shift Remarketing Operation, Inc., a wholly owned subsidiary of Shift Technologies, Inc. (SFT) . The merger became effective prior to the open of business on Friday, December 9, 2022. In anticipation of the closing, the common stock and warrant were halted immediately following the after-hours session at 8 p.m. on December 8, 2022. The stocks will remain halted on the day of closing (12/9) and will be suspended effective December 12, 2022. The suspension details are as follows:

Company Name/Issue: CarLotz, Inc. Class A Common Stock
CUSIP#: 142552108
Symbol: LOTZ
Last Trading Date: December 8, 2022
Effective Date for Suspension: December 12, 2022
Merger Consideration: Approximately 0.705241 of a share of Shift Technologies, Inc. Class A Common Stock for each share held.
Company Name/Issue: CarLotz, Inc. Warrant
CUSIP#: 142552116
Symbol: LOTZW
Last Trading Date: December 8, 2022
Marketplace Effective Date for Suspension: December 12, 2022
Merger Consideration: Each warrant to purchase shares of LOTZ issued and outstanding immediately prior to the effective time of the merger shall become a warrant of the surviving corporation pursuant to the terms of the LOTZ warrants.

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