PODCAST: CarLotz CEO Michael Bor on company going public
CarLotz is now officially a publicly traded company. It began trading on NASDAQ on Friday, following the completion of its merger Thursday with Acamar Partners Acquisition Corp., a special purpose acquisition corporation.
Auto Remarketing’s Joe Overby caught up with CarLotz CEO Michael Bor on Friday to talk about this landmark day in the company’s history.
“In many ways, it’s the ending of this kind of grueling, eight-month transaction that we’ve done. It’s the end of being a private company and some of the benefits and drawbacks of that,” Bor said during the interview.
“But it really is the beginning of something amazing,” he said. “And that is, an amount of capital that is 10 times as much as we’ve raised cumulatively since we started the company, with which to go and grow considerably from where we are today; take this model that we’ve built and refined — it still isn’t perfect, but it’s really good — take it around the country and be able to offer our services to more consignors and more car buyers and more individual sellers of vehicles.”