Carvana Co. Announces Upsize and Pricing of its Follow-on Offering of Class A Common Stock
April 26 2018 - 6:05AM
Business Wire
Carvana Co. (NYSE: CVNA), a leading eCommerce platform for
buying used cars, today announced the upsize and pricing of its
follow-on public offering of 11,000,000 shares of its Class A
common stock at a price to the public of $27.50 per share. Carvana
is selling 6,600,000 shares of Class A common stock and selling
stockholders are selling 4,400,000 shares of Class A common stock.
In addition, a selling stockholder has granted the underwriters the
right to purchase up to 1,650,000 additional shares of Class A
common stock at the offering price. The offering was upsized from
the previously announced offering size of 10,000,000 shares of
Class A common stock. The offering is expected to close on April
30, 2018, subject to customary closing conditions.
Wells Fargo Securities, Citigroup and Deutsche Bank Securities
acted as book-running managers for the proposed offering. Baird,
William Blair, BMO Capital Markets Corp., JMP Securities and
Wedbush Securities acted as co-managers.
The offering is being made only by means of a prospectus. A copy
of the prospectus relating to these securities may be obtained from
Wells Fargo Securities, LLC, Attention: Equity Syndicate
Department, 375 Park Avenue, New York, New York 10152, or by phone
at 1-800-326-5897, or by email at cmclientsupport@wellsfargo.com,
from Citigroup, c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146), or from
Deutsche Bank Securities, Attention: Prospectus Group, 60 Wall
Street, New York, New York 10005, telephone: 800-503-4611, or by
emailing prospectus.CPDG@db.com.
A registration statement relating to these securities has been
filed with, and declared effective by, the U.S. Securities and
Exchange Commission. This press release shall not constitute an
offer to sell or a solicitation of an offer to buy any of these
securities, nor shall there be any sale of these securities in any
state or jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the
applicable securities laws of such state or jurisdiction.
About Carvana Co.
Founded in 2012 and based in Phoenix, Carvana’s (NYSE: CVNA)
mission is to change the way people buy cars. By removing the
traditional dealership infrastructure and replacing it with
technology and exceptional customer service, Carvana offers
consumers an intuitive and convenient online automotive retail
platform. Carvana.com enables consumers to quickly and easily buy a
car online, including finding their preferred vehicle, qualifying
for financing, getting a trade-in value, signing contracts, and
receiving as-soon-as-next-day delivery or pickup of the vehicle
from one of Carvana’s proprietary automated Car Vending
Machines.
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Investor Relations:CarvanaMike Levininvestors@carvana.comorMedia
Contact:CarvanaKate Carvercarvana@olson.com
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