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Shift Announces Completion of Exchange Offer and Plan to Exchange Remaining Outstanding Public .
Shift Technologies, Inc.December 24, 2020 GMT
SAN FRANCISCO, Dec. 24, 2020 (GLOBE NEWSWIRE) Shift Technologies, Inc. (NASDAQ: SFT), “ Shift,” a leading end-to-end ecommerce platform for buying and selling used cars, today announced the completion of its previously announced exchange offer (the “Offer”) and consent solicitation relating to its publicly traded warrants. The Company was advised that 6,980,262 publicly traded warrants, including 3,958 public warrants tendered through guaranteed delivery, representing approximately 92.7% of the total public warrants outstanding, were validly tendered and not withdrawn prior to the expiration of the Offer. The Company expects to issue an aggregate of 1,745,078 shares of Class A common stock (“Common Stock”) and pay $6,980,262 in cash
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