PHOENIX--(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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180426005556/en/
Investor Relations:
Carvana
Mike Levin
investors@carvana.com
or
Media
Contact:
Carvana
Kate Carver
carvana@olson.com
Source: Carvana Co.
