See insights on Shift Technology including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. Van Voorhis (antitrust) Partners Matthew J. Shift Technology has 466 employees across 4 locations and 319.99 m in total funding. Casper and Associates Amy Inagaki and William R. Other members of the team included Partner Jeremy A. The merger agreement was signed just 21 days after the parties entered into a letter of intent. We are thrilled to bring Shift to the public markets, fulfilling our long-term plan to be a publicly listed company,” said Shift Co-CEO George Arison. A smarter way to transform your legacy system and run it on the cloud. Talk to our technology experts to see how our patented technology helps your business exceed. Once in a while if I am using Shift on my monitor screen and I close my laptop, next time I use my laptop with no monitor I cant get Shift to come up again. smartShift Technologies is a leader in SAP automation, Cloud Transformation and Cloud Migration. Every once in awhile it can be a bit slow. Offer tons of integrations for other platforms you use like Slack, banking, Hootsuite, etc. and fortified our cash position with $300 million to invest in growing our business. It helps manage multiple inboxes quickly and easily. With the support of our shareholders, we have completed the merger with Insurance Acquisition Corp. “Today marks an important milestone for our company. Following the close, Shift’s management team will continue to operate the combined company. The combined company expects to use its cash on hand to support growth and working capital. The transaction provides the combined company with approximately $300 million, net of fees and expenses, including cash from Insurance Acquisition Corp.’s initial public offering and its private issuance at the closing of $189 million in shares to investors.
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The aggregate consideration to Shift equity holders consisted of $380 million in newly issued shares of Class A Common Stock of Insurance Acquisition Corp., plus an additional 6 million shares of Class A Common Stock held in escrow at the closing and released if the combined company achieves certain share price targets over time. The business combination brings the newest pure-play in the used car ecommerce market to the public markets.
changed its name to Shift Technologies, Inc., trading under the new ticker symbols “SFT” and “SFTTW” on the Nasdaq exchange. In connection with the closing, Shift changed its name to Shift Platform, Inc., and Insurance Acquisition Corp. merged with and into Shift, with Shift surviving as a wholly owned subsidiary of Insurance Acquisition Corp. As a result of the transaction, a newly formed subsidiary of Insurance Acquisition Corp. On October 13, 2020, firm client Shift Technologies, Inc., a leading end-to-end ecommerce platform for buying and selling used cars, and Insurance Acquisition Corp., a NASDAQ-listed special purpose acquisition company, completed their previously announced business combination.
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