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Shift Completes Merger with Insurance Acquisition Corp. on its Path to …

Shift Completes Merger with Insurance Acquisition Corp. on its Path to …

SAN FRANCISCO, Oct. 14, 2020 (GLOBE NEWSWIRE) — In a release issued under the same headline earlier today by Insurance Acquisition Corp. (NASDAQ: INSU) and Shift, please note that dates included in the press release were incorrect. Shift will begin trading on NASDAQ under the ticker symbol “SFT” and its senior management will host an investor conference call on October 15, 2020, not October 14, 2020, as previously stated. The corrected release follows.

Shift Completes Merger with Insurance Acquisition Corp. on its Path to Public Listing, Transaction Delivers $340 Million to Support Growth and Working Capital

Shift will begin trading on NASDAQ under ticker SFT on October 15, 2020

Shift’s senior management to host investor conference call on October 15, 2020 at 8:00am EDT

Shift, a leading end-to-end ecommerce platform for buying and selling used cars, and Insurance Acquisition Corp. (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. 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. The transaction provides Shift with approximately $300 million, net of fees and expenses. Beginning October 15, 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 October 15, 2020 at 8:00am EDT.

Shift has built a state-of-the-art automotive ecommerce company powered by its unique technology platform and service model. Leveraging proprietary technology, Shift delivers a comprehensive and seamless process for consumers to buy, sell, trade, finance, and own used cars.

“Today marks an important milestone for our company.

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Shift Completes Merger with Insurance Acquisition Corp. on its Path to Public Listing, … | Money

Shift Completes Merger with Insurance Acquisition Corp. on its Path to Public Listing, … | Money

Caution Regarding Forward Looking Statements

This document includes “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward looking statements include estimated financial information. Such forward looking statements with respect to revenues, earnings, performance, strategies, prospects and other aspects of Shift’s business are based on current expectations that are subject to risks and uncertainties. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward looking statements. These factors include, but are not limited to: (1) the risk that the business combination disrupts Shift’s current plans and operations; (2) the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, Shift’s ability to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (3) costs related to the business combination; (4) changes in applicable laws or regulations; (5) the possibility that Shift may be adversely affected by other economic, business, and/or competitive factors; (6) the operational and financial outlook of Shift; (7) the ability for Shift to execute its growth strategy; and (8) other risks and uncertainties indicated from time to time in other documents filed or to be filed with the Securities and Exchange Commission (“SEC”) by Shift. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Shift undertakes no commitment to update or revise

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Enterprise Financial Services Corp Announces Third Quarter 2020 Earnings Release and Conference Call

Enterprise Financial Services Corp Announces Third Quarter 2020 Earnings Release and Conference Call

ST. LOUIS, Mo.–(BUSINESS WIRE)–
Enterprise Financial Services Corp (Nasdaq: EFSC) (“the Company” or “EFSC”) will release its third quarter 2020 financial results on Monday, October 19, 2020. The Company will host a conference call and webcast at 10:00 a.m. CT on Tuesday, October 20, 2020. The conference call will be accessible by telephone at 1-800-353-6461 (Conference ID #6978860). The webcast will be accessible via the “Investor Relations” page of the Company’s website, www.enterprisebank.com. The press release and related presentation slides will be accessible via the same website page prior to the scheduled call. A recorded replay of the conference call will be available on the website beginning two hours after the call’s completion. To access the audio replay, please visit http://bit.ly/EFSC3Q2020earnings. The replay will be available for approximately two weeks following the conference call.

Enterprise Financial Services Corp (Nasdaq: EFSC), with approximately $8 billion in assets, is a financial holding company headquartered in Clayton, Missouri. Enterprise Bank & Trust, a Missouri state-chartered trust company with banking powers and a wholly-owned subsidiary of EFSC, operates 34 branch offices in Arizona, Kansas, Missouri, and New Mexico. Enterprise Bank & Trust offers a range of business and personal banking services, and wealth management services. Enterprise Trust, a division of Enterprise Bank & Trust, provides financial planning, estate planning, investment management, and trust services to businesses, individuals, institutions, retirement plans and non-profit organizations. Additional information is available at www.enterprisebank.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201009005390/en/

For Investor Relations Contact:
Keene Turner, Executive Vice President and CFO (314) 512-7233
For Media Inquiries Contact:
Karen Loiterstein, Senior Vice President, Marketing (314) 512-7141

Source: Enterprise Financial Services Corp

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Prent Corp. to open packaging factory in New Mexico

Prent Corp. to open packaging factory in New Mexico

SANTA FE, N.M. (AP) — A manufacturer of plastic packaging used for medical equipment during the COVID-19 pandemic plans to build its next factory in southern New Mexico.

Prent Corp. will invest $12.5 million into the project and create 85 new jobs, according to a release from the Borderplex Alliance.

​“Southern New Mexico is brimming with opportunity,” Gov. Michelle Lujan Grisham said. “The growth potential here is limitless. These good-paying jobs are proof positive that New Mexico is known around the country as business-friendly and a great place to invest right now.”

Construction of the plant in Santa Teresa, Doña Ana County, is still pending approval. It could be up and running by the fall of 2021, according to the Borderplex Alliance.

“Prent Corporation’s opening will add a substantial number of good-paying jobs to Doña Ana County,” County Commission Chair Lynn Ellins said. “Santa Teresa is an excellent location for contributing to Prent’s success. This is especially good news to receive in the midst of a pandemic.”


Designed to build sterile barrier packages for medical devices, the plant would be equipped with stringently regulated clean rooms.

The Janesville, Wisconsin-based company has partnered with medical companies during the pandemic to ship personal protective equipment such as face shields, according to Boston Scientific Corp.

The Borderplex Alliance promotes cross-border business interests in the tri-state, bi-national border region encompassing Las Cruces, New Mexico; El Paso, Texas; and Chihuahua, Mexico.

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