InvestorsHub Logo
Followers 192
Posts 5218
Boards Moderated 1
Alias Born 03/16/2014

Re: None

Friday, 01/08/2021 12:23:55 PM

Friday, January 08, 2021 12:23:55 PM

Post# of 22
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 circa 15% of the PIPE.