\nCarLotz, Inc., (\u201cCarLotz\u201d or the \u201cCompany\u201d), a leading consignment-to-retail used vehicle marketplace, which recently announced it would become a public company via a merger that is subject to certain closing conditions with special purpose acquisition company Acamar Partners Acquisition Corp. (\u201cAcamar\u201d) (Nasdaq: ACAM), announced today that Tom Stoltz has been appointed Chief Financial Officer, effective November 30, 2020. Stoltz will report to CarLotz CEO and co-founder Michael Bor.\n<\/p>\n
This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20201117005844\/en\/<\/a><\/p>\n \nStoltz, a veteran senior finance professional with close to three decades of public and private company experience, brings extensive retail industry expertise to the role and most recently served as the Chief Financial Officer of Chicago-based Portillos Hot Dogs. Previously, Stoltz held roles with Fortune 500 companies Dollar General and Food Lion, as well as senior roles at a number of retail industry public and private companies.\n<\/p>\n \n\u201cCarLotz has experienced incredible growth in recent years, and the transaction to become a public company will take the Company to the next level,\u201d said Michael Bor, CEO and co-founder of CarLotz. \u201cAs the business rapidly scales, we are fortunate to have Tom join with his deep knowledge and skill set, coupled with his strong retail experience. I am confident that Tom\u2019s experience will help us grow the business and execute against our long-term goals.\u201d\n<\/p>\n \nAdditionally, Stoltz previously served as Chief Financial Officer and Chief Operating Officer of Body Central, a prime destination for trendy women\u2019s apparel at affordable prices, where he led a change in control capital raising transaction. Prior to Body Central, Mr. Stoltz served as the Chief Financial Officer of Citi Trends, Cato Corporation, and Fanatics, where he led the M&A process in 2011 to sell the family business to GSI Commerce. He has completed two prior IPOs in his career at Factory Card and Party Outlet in 1996 and again with Citi Trends in 2005.\n<\/p>\n \n\u201cI am thrilled to join the exceptional CarLotz team at this important inflection point in the growth of the Company,\u201d said Stoltz. \u201cCarLotz continues to produce exceptional annualized growth rates and the company\u2019s future looks immensely promising as the only consignment-to-retail sales operation in the used vehicle industry. I am excited to build on CarLotz\u2019 impressive track record of excellence and growth and look forward to working closely with Michael and the rest of CarLotz\u2019 outstanding management team.\u201d\n<\/p>\n \nSteve Carrel, Managing Director at TRP Capital Partners, a leading private equity fund in the transportation sector and investor in CarLotz, said, \u201cTom brings the right skill set and experience to CarLotz at a pivotal time in its growth trajectory. As the Company seeks to build out a national platform of hubs, and accomplish other critical growth initiatives, I\u2019m confident Tom\u2019s leadership and public company experience will help the company achieve its great potential.\u201d\n<\/p>\n About CarLotz, Inc.<\/b><\/p>\n \nCarLotz is a used vehicle consignment and Retail Remarketing\u2122 business that provides our corporate vehicle sourcing partners and retail sellers of used vehicles with the ability to access the previously unavailable retail sales channel, while simultaneously providing buyers with prices that are, on average, below those of traditional dealerships. Our mission is to create the world\u2019s greatest vehicle buying and selling experience. We operate a technology-enabled buying, sourcing and selling model that offers a seamless omni-channel experience and comprehensive selection of vehicles while allowing for a fully contactless end-to-end e-commerce interface that enables no hassle buying and selling. Our proprietary Retail Remarketing\u2122 technology provides our corporate vehicle sourcing partners with real-time performance metrics and data analytics along with custom business intelligence reporting that enables price and vehicle triage optimization between the wholesale and retail channel. Through our marketplace model, we generate significant value for both sellers and buyers through price, selection and experience. For more information, visit www.carlotz.com<\/a>.\n<\/p>\n About Acamar Partners Acquisition Corp.<\/b><\/p>\n \nAcamar Partners Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Acamar Partners Acquisition Corp. raised $305.6 million in its initial public offering in February 2019 (and subsequent exercise of the underwriters\u2019 over-allotment option). The company\u2019s securities are quoted on Nasdaq under the ticker symbols ACAM, ACAMW and ACAMU. For more information, visit www.acamarpartners.com<\/a>.\n<\/p>\n Important Additional Information and Where to Find It<\/b><\/p>\n \nThis communication is being made in respect of the proposed merger transaction involving Acamar Partners and CarLotz. Acamar Partners has filed a registration statement on Form S-4 with the Securities and Exchange Commission (the \u201cSEC\u201d), which includes a preliminary proxy statement of Acamar Partners, a preliminary prospectus of Acamar Partners and a preliminary consent solicitation statement of CarLotz, and will file other documents with the SEC regarding the proposed transaction. A definitive proxy statement\/prospectus\/consent solicitation statement will also be sent to the stockholders of Acamar Partners and CarLotz, seeking any required stockholder approval. Before making any voting or investment decision, investors and security holders of Acamar Partners and CarLotz are urged to carefully read the entire registration statement and proxy statement\/prospectus\/consent solicitation statement, when they become available, and any other relevant documents filed with the SEC, as well as any amendments or supplements to these documents, because they will contain important information about the proposed transaction. The documents filed by Acamar Partners with the SEC may be obtained free of charge at the SEC\u2019s website at www.sec.gov<\/a>. In addition, the documents filed by Acamar Partners may be obtained free of charge from Acamar Partners at www.acamarpartners.com<\/a>. Alternatively, these documents, when available, can be obtained free of charge from Acamar Partners upon written request to Acamar Partners Acquisition Corp., 1450 Brickell Avenue, Suite 2130, Miami, Florida 33131, or by calling 786-264-6680.\n<\/p>\n Participants in the Solicitation<\/b><\/p>\n \nAcamar Partners, CarLotz and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of Acamar Partner in connection with the proposed merger. Information regarding Acamar Partners\u2019 directors and executive officers is contained in Acamar Partners\u2019 Annual Report on Form 10-K for the year ended December 31, 2019, which has been filed with the SEC and is available at the SEC website at www.sec.gov<\/a>.\n<\/p>\n \nAdditional information regarding the interests of these participants and other persons who may be deemed to be participants in the solicitation may be obtained by reading the registration statement and the proxy statement\/prospectus\/consent solicitation statement and other relevant documents filed with the SEC when they become available. Free copies of these documents may be obtained as described in the preceding paragraphs.\n<\/p>\n \nThis communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such other jurisdiction.\n<\/p>\n Forward-Looking Statements<\/b><\/p>\n \nThis communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, forward-looking statements include statements that are not historical facts, such as statements concerning possible or assumed future actions, business strategies, events or results of operations, including statements regarding Acamar Partners\u2019 and CarLotz\u2019 expectations or predictions of future financial or business performance or conditions. Forward-looking statements may be preceded by, followed by or include the words \u201cbelieves,\u201d \u201cestimates,\u201d \u201cexpects,\u201d \u201cprojects,\u201d \u201cforecasts,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201cseeks,\u201d \u201cplans,\u201d \u201cscheduled,\u201d \u201canticipates\u201d or \u201cintends\u201d or similar expressions.\n<\/p>\n \nForward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. Certain of these risks are identified and discussed in Acamar Partners\u2019 registration statement on Form S-4 under \u201cRisk Factors,\u201d Acamar Partners\u2019 Form 10-K for the year ended December 31, 2019 under \u201cRisk Factors\u201d in Part I, Item 1A and in Acamar Partners\u2019 Form 10-Q for the quarterly period ended March 31, 2020 and Form 10-Q for the quarterly period ended June 30, 2020 under \u201cRisk Factors\u201d in Part II, Item 1A. These risk factors will be important to consider in determining future results and should be reviewed in their entirety.\n<\/p>\n \nIn addition to risks previously disclosed in Acamar Partners\u2019 reports filed with the SEC and those identified elsewhere in this communication, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: ability to meet the closing conditions to the merger, including approval by stockholders of Acamar Partners and CarLotz on the expected terms and schedule and the risk that regulatory approvals required for the merger are not obtained or are obtained subject to conditions that are not anticipated; delay in closing the merger; failure to realize the benefits expected from the proposed transaction; the effects of pending and future legislation; risks related to management\u2019s focus on the proposed transaction rather than on the ongoing business operations of CarLotz; business disruption following the transaction; risks related to Acamar Partners\u2019 or CarLotz\u2019 indebtedness; other consequences associated with mergers, acquisitions and legislative and regulatory actions and reforms; risks of the automotive and used vehicle industries; the potential impact of COVID-19 on the used vehicle industry and on the CarLotz business; litigation, complaints, product liability claims or adverse publicity; the impact of changes in consumer spending patterns, consumer preferences, local, regional and national economic conditions, crime, weather, demographic trends and employee availability; new entrants in the consignment-to-retail used vehicle business; technological disruptions, privacy or data breaches, the loss of data or cyberattacks; and the ability to compete successfully with new and existing market participants.\n<\/p>\n \nAny financial projections in this communication are forward-looking statements that are based on assumptions that are inherently subject to significant uncertainties and contingencies, many of which are beyond Acamar Partners\u2019 and CarLotz\u2019 control. While all projections are necessarily speculative, Acamar Partners and CarLotz believe that the preparation of prospective financial information involves increasingly higher levels of uncertainty the further out the projection extends from the date of preparation. The assumptions and estimates underlying the projected results are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the projections. The inclusion of projections in this communication should not be regarded as an indication that Acamar Partners and CarLotz, or their representatives, considered or consider the projections to be a reliable prediction of future events.\n<\/p>\n \nForward-looking statements speak only as of the date they are made, and Acamar Partners and CarLotz are under no obligation, and expressly disclaim any obligation, to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Readers should carefully review the statements set forth in the reports that Acamar Partners has filed or will file from time to time with the SEC. Forward-looking statements are expressed in good faith, and Acamar Partners and CarLotz believe there is a reasonable basis for then. However, there can be no assurance that the events, results or trends identified in these forward-looking statements will occur or be achieved.\n<\/p>\n \nAnnualized, pro forma, projected and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results.\n<\/p>\n \nThis communication is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in Acamar Partners and is not intended to form the basis of an investment decision in Acamar Partners. All subsequent written and oral forward-looking statements concerning Acamar Partners and CarLotz, the proposed transaction or other matters and attributable to Acamar Partners and CarLotz or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above.\n<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201117005844\/en\/<\/a><\/span><\/p>\n Investors:<\/p>\n
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CarLotzIR@icrinc.com
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