and fortified our cash position with $300 million to invest in growing our business. With the support of our shareholders, we have completed the merger with Insurance Acquisition Corp. “Today marks an important milestone for our company. Leveraging proprietary technology, Shift delivers a comprehensive and seamless process for consumers to buy, sell, trade, finance, and own used cars. Shift has built a state-of-the-art automotive ecommerce company powered by its unique technology platform and service model.
SHIFT USED CARS STOCK SYMBOL UPDATE
Beginning October 14, 2020, Shift’s shares of Class A common stock will trade on the Nasdaq under the ticker symbol “SFT” and warrants under ticker symbol “SFTTW.” Shift’s co-CEOs, George Arison and Toby Russell, will host an investor update call on Octoat 8:00am EDT. The transaction provides Shift with approximately $300 million, net of fees and expenses.
The business combination, which was approved on October 13, 2020, by INSU’s stockholders, brings the newest pure-play in the used car ecommerce market to the public markets. (Nasdaq: INSU), a publicly traded special purpose acquisition company sponsored by Cohen & Company (NYSE American: COHN), have announced the closing of their previously announced business combination. 13, 2020 (GLOBE NEWSWIRE) - Shift, a leading end-to-end ecommerce platform for buying and selling used cars, and Insurance Acquisition Corp. Shift’s senior management to host investor conference call on Octoat 8:00am EDT Shift will begin trading on NASDAQ under ticker SFT on October 14, 2020
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