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SPAC · Merger completed

Insurance Acquisition Corp.

Business combination with Shift Technologies, Inc.

Insurance Acquisition Corp. is a blank-check company (SPAC) that completed its initial public offering on Mar 21, 2019, listing on Nasdaq. It completed its business combination with Shift Technologies, Inc. on Oct 13, 2020; the combined company is Shift Technologies, Inc. (SFT). Cantor led the IPO, with BTIG. Ellenoff Grossman & Schole advised the underwriters on the IPO.

Shift Technologies is an e-commerce platform with a mission to make car buying convenient, fair and accessible. It is the target of a business combination with Insurance Acquisition Corp., a blank check company quoted on Nasdaq.

Status
Merger completed
IPO date
Mar 21, 2019
IPO exchange
Nasdaq
Target
Shift Technologies, Inc.
Announced
Jun 29, 2020
Stated deal value
$730M
Closed
Oct 13, 2020
Combined company
Shift Technologies, Inc. (SFT)
IPO underwriters
Cantor and BTIG
Underwriters' counsel (IPO)
Ellenoff Grossman & Schole

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