 SAN FRANCISCO, May 25, 2021 GLOBE NEWSWIRE -- Shift Technologies, Inc. NASDAQ: SFT today announced the pricing of 125,000,000 aggregate principal amount of 4.75 convertible senior notes due 2026 the notes in a private offering only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended the Act. Shift also granted the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date notes are first issued, up to an additional 25 million aggregate principal amount of the notes. The sale of the notes to the initial purchasers is expected to settle on May 27, 2021, subject to customary closing conditions, and is expected to result in approximately 119.7 million in net proceeds to Shift after deducting the initial purchasers discount and estimated offering expenses payable by Shift assuming no exercise of the initial purchasers option to purchase additional notes. The size of the offering was increased from the previously announced 75,000,000 aggregate principal amount of the notes. 