Carvana Co. Announces Launch of Proposed Follow-on Offering of Class A Common Stock
April 23 2018 - 3:22PM
Business Wire
Carvana Co. (NYSE: CVNA), a leading eCommerce platform for
buying used cars, today announced that it has commenced a follow-on
public offering of its Class A common stock. Carvana is proposing
to sell 6,000,000 shares of Class A common stock and selling
stockholders are proposing to sell 4,000,000 shares of Class A
common stock. In addition, a selling stockholder has granted the
underwriters the right to purchase up to 1,500,000 additional
shares of Class A common stock. Carvana will not receive any
proceeds from the shares sold by selling stockholders.
Wells Fargo Securities, Citigroup and Deutsche Bank Securities
will act as book-running managers for the proposed offering.
The proposed offering will be made only by means of a
prospectus. A copy of the preliminary 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 the U.S. Securities and Exchange Commission but has not
yet become effective. These securities may not be sold nor may
offers to buy be accepted prior to the time the registration
statement becomes effective. 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.
Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements reflect Carvana’s current
intentions, expectations or beliefs regarding the proposed Class A
common stock offering. These statements may be preceded by,
followed by or include the words "aim," "anticipate," "believe,"
"estimate," "expect," "forecast," "intend," "likely," "outlook,"
"plan," "potential," "project," "projection," "seek," "can,"
"could," "may," "should," "would," "will," the negatives thereof
and other words and terms of similar meaning. Forward-looking
statements include all statements that are not historical facts.
Such forward-looking statements are subject to various risks and
uncertainties. Accordingly, there are or will be important factors
that could cause actual outcomes or results to differ materially
from those indicated in these statements. There is no assurance
that any forward-looking statements will materialize. You are
cautioned not to place undue reliance on forward-looking
statements, which reflect expectations only as of this date.
Carvana does not undertake any obligation to publicly update or
review any forward-looking statement, whether as a result of new
information, future developments, or otherwise.
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CarvanaInvestor Relations:Mike Levininvestors@carvana.comorMedia
Contact:Kate Carvercarvana@olson.com
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