CarLotz Announces Special Shareholder Meeting Voting Results

RICHMOND, Va., Dec. 07, 2022 (GLOBE NEWSWIRE) -- CarLotz, Inc. (the “Company” or “CarLotz”; NASDAQ: LOTZ), a consignment-to-retail used vehicle marketplace, is pleased to announce that today the Company’s stockholders approved the Agreement and Plan of Merger, dated August 9, 2022, among Shift Technologies, Inc. (“Shift”), Shift Remarketing Operations, Inc. (“Merger Sub”) and the Company, pursuant to which, among other things and subject to the terms and conditions contained therein, Merger Sub will merge with and into the Company, with the Company continuing as the surviving corporation and as a wholly owned subsidiary of Shift (the “Merger”). The proposal to approve the Merger Agreement was passed by stockholders voting at the Company’s special meeting of stockholders (the “CarLotz Special Meeting”) held virtually on December 7, 2022.

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