NEW YORK — CarLotz Inc., a U.S. consignment store for used vehicles, is nearing a deal to go public through a merger with blank-check acquisition company Acamar Partners Acquisition Corp. at a valuation of close to $830 million, including debt, people familiar with the matter told Reuters on Wednesday.
The deal would make CarLotz the third major U.S. online car seller to go public this year, following in the trails of Vroom Inc. and Shift Technologies Inc., as online vehicle sales boom during the coronavirus pandemic powered by consumers seeking to practice social distancing.
An agreement could be announced as soon as Thursday, the sources said, requesting anonymity because the matter is confidential. CarLotz and Acamar declined to comment.
Richmond, Va.-based CarLotz, which was founded in 2011, operates a consignment platform that splits profits from vehicle sales with the car owners. This business model differs from those of