Carvana Announces Pricing of Initial Public Offering
April 27 2017 - 11:31PM
Business Wire
Carvana Co. (NYSE:CVNA) today announced the pricing of its
initial public offering of 15,000,000 shares of its Class A common
stock at a price to the public of $15.00 per share. The shares are
expected to begin trading on the New York Stock Exchange on April
28, 2017 under the symbol “CVNA.” The offering is expected to close
on May 3, 2017, subject to customary closing conditions.
Carvana has granted the underwriters a 30-day option to purchase
up to 2,250,000 additional shares of Class A common stock.
Wells Fargo Securities, LLC, BofA Merrill Lynch, Citigroup
Global Markets Inc. and Deutsche Bank Securities Inc. are acting as
joint book-running managers for the offering. Robert W. Baird &
Co. Incorporated, William Blair & Company, L.L.C., BMO Capital
Markets Corp. and JMP Securities LLC are acting as co-managers.
The offering is being made only by means of a prospectus. Copies
of the prospectus may be obtained from Wells Fargo Securities, LLC,
Attention: Equity Syndicate Department, 375 Park Avenue, New York,
NY 10152, or by phone at 1-800-326-5897, or by email at
cmclientsupport@wellsfargo.com and BofA Merrill Lynch, Attn:
Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd
floor, Charlotte, NC 28255-0001, or by email
at dg.prospectus_requests@baml.com.
A registration statement relating to these securities has been
filed with, and declared effective by, the United States Securities
and Exchange Commission (“SEC”). Copies of the registration
statement can be accessed through the SEC's website
at www.sec.gov. This press release does not constitute an
offer to sell or a solicitation of an offer to buy, nor will there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation, or sale would be unlawful before
registration or qualification under the securities laws of that
state or jurisdiction.
About Carvana
Carvana is a leading eCommerce platform for buying used cars.
Carvana is transforming the used car buying experience by giving
consumers what they want – a wide selection, great value and
quality, transparent pricing and a simple, no pressure transaction.
Each element of the Company’s business, from inventory procurement
to fulfillment and overall ease of the online transaction, has been
built for this singular purpose.
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Investor Contact:The Blueshirt GroupAlex
Wellinsalex@blueshirtgroup.comorMedia Contact:Olson
EngageKate Carvercarvana@olson.com
Carvana (NYSE:CVNA)
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