![]() ![]() The Offer commenced today and will expire, unless extended, at 12:00 midnight, Eastern Time, on December 23, 2020. Shift is offering to exchange 0.25 shares of its Class A common stock (“Class A Common Stock”) and $1.00 in cash, without interest (together, the “Exchange Consideration”), for each Public Warrant tendered.Ĭoncurrently with the Offer, Shift is soliciting consents (the “Consent Solicitation”) from holders of the Public Warrants to amend the Warrant Agreement, dated as of March 22, 2019, which governs all of the Public Warrants to permit Shift to require that each outstanding Public Warrant be converted into a combination of 0.225 shares of its Class A Common Stock and $0.90 in cash, without interest (the “Conversion Consideration”), which Conversion Consideration is a ratio that is approximately 10% less than the Exchange Consideration applicable to the Offer. ![]() (NASDAQ: SFT), “ Shift,” a leading end-to-end ecommerce platform for buying and selling used cars, today announced that it has commenced an offer to exchange (the “Offer”) relating to its outstanding publicly traded warrants (the “Public Warrants”). 25, 2020 (GLOBE NEWSWIRE) - Shift Technologies, Inc.
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