TrueCar Announces Pricing of Public Offering
April 26 2017 - 11:12PM
TrueCar, Inc. (NASDAQ:TRUE) today announced the pricing of its
public offering of 9,000,000 shares of its common stock at a price
to the public of $16.50 per share.
TrueCar is selling 1,000,000 shares of common stock in the
offering and certain existing stockholders of the company are
selling 8,000,000 shares in the offering. TrueCar and the
selling stockholders have granted the underwriters’ a 30-day option
to purchase a total of up to 1,350,000 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.
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.
A shelf registration statement on Form S-3 (File No. 333-215614)
relating to the shares of common stock being offered has been
declared effective by the Securities and Exchange
Commission ("SEC"). This offering may only be made by means of
a prospectus supplement and the accompanying prospectus. The
preliminary prospectus supplement related to the offering was filed
with the SEC on April 24, 2017. The related final
prospectus supplement and accompanying prospectus will be filed
with the SEC and, when available, may be obtained by
visiting EDGAR on the SEC's website at www.sec.gov;
by contacting Goldman, Sachs & Co., Prospectus Department, 200
West Street, New York, NY 10282, telephone: (866) 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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