Baird served as co-manager on this offering
AboutCarvana Co. (“Carvana” or the “Company”) (NYSE: CVNA) recently completed a follow-on offering of 12,650,000 shares of Class A common stock, including full exercise of the over-allotment option. Carvana sold 6,600,000 shares of Class A common stock, selling stockholders sold 4,400,000 shares of Class A common stock and the over-allotment option was exercised for an additional 1,650,000 shares. Carvana intends to use the net proceeds from the offering for general corporate purposes, including funding working capital, capital expenditures, operating expenses and the selective pursuit of business development opportunities, including expanding the Company’s business through acquisitions of, or investments in, other businesses, products or technologies.
Carvana is a leading eCommerce platform for buying used cars. The Company 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 Carvana’s business, from inventory procurement to fulfillment and overall ease of the online transaction, has been built for this singular purpose. The Company was incorporated in 2012 and is based in Phoenix, Arizona.
CONTACT US TO LEARN MORE
- April 2018
- Carvana Co.
- Technology & Services
- Target Location
- North America
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