TrueCar Announces Proposed Public Offering
April 24 2017 - 6:28AM
TrueCar, Inc. (NASDAQ:TRUE) today announced a proposed public
offering of its common stock. TrueCar expects to offer
1,000,000 shares of common stock in the offering and certain
existing stockholders of the company are expected to offer
7,500,000 shares in the offering. TrueCar and the selling
stockholders are expected to grant the underwriters’ a 30-day
option to purchase up to a total of 1,275,000 additional shares at
the public offering price, less underwriting discounts and
commissions. TrueCar will not receive any proceeds from the
sale of the shares by the selling stockholders. The final
terms of the offering will depend on market and other conditions at
the time of pricing, and there can be no assurance as to whether or
when the offering may be completed.
Goldman, Sachs & Co. and J.P. Morgan are acting as lead
book-running managers for the offering, and RBC Capital Markets and
JMP Securities are acting as book-running managers for the
offering. B. Riley and Co., Craig-Hallum Capital Group,
Stephens Inc. and Loop Capital Markets are acting as
co-managers.
The proposed offering is being made pursuant to a shelf
registration statement on Form S-3 that was declared effective by
the Securities and Exchange Commission (the "SEC")
on February 6, 2017. This proposed offering may only be
made by means of a prospectus supplement and the accompanying
prospectus. A preliminary prospectus supplement and accompanying
prospectus related to the proposed offering have been filed with
the SEC and may be obtained by visiting EDGAR on
the SEC's website at www.sec.gov, or, when
available, by contacting Goldman, Sachs & Co., Prospectus
Department, 200 West Street, New York, NY 10282, telephone: (266)
471-2526, or by email at prospectus-ny@gs.com; or J.P. Morgan
Securities LLC, c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, New York 11717, telephone: (866) 803-9204,
or by email at prospectus-eq_fi@jpmchase.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About TrueCar
TrueCar, Inc. (NASDAQ:TRUE) is a digital automotive marketplace
that provides comprehensive pricing transparency about what other
people paid for their cars and enables consumers to engage with
TrueCar Certified Dealers who are committed to providing a superior
purchase experience. TrueCar operates its own branded site and its
nationwide network of more than 14,000 Certified Dealers also
powers car-buying programs for some of the largest U.S. membership
and service organizations, including USAA, AARP, American Express,
AAA and Sam's Club. Over one third of all new car buyers engage
with the TrueCar network during their purchasing process. TrueCar
is headquartered in Santa Monica, California, with offices in San
Francisco and Austin, Texas.
TrueCar media line: +1-844-469-8442 (US toll-free) | Email:
pressinquiries@truecar.com
Contact
Alison Sternberg
Vice President, Investor Relations and Administration
424-258-8771
asternberg@truecar.com
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