June 29 (Reuters) - Online used-car seller Shift Technologies on Monday said it plans to go public later this year through a reverse merger with a blank-check company, as U.S. capital markets rebound after the coronavirus crisis forced companies to halt new listings.
Shift's listing also highlights the strong appetite for new stock offerings by companies with an online-focused business against the backdrop of shelter-at-home orders and social distancing norms because of the pandemic.
Auto retailers have turned to online channels to close deals without a handshake and are arranging for vehicles to be picked up or delivered without requiring customers to visit stores.