PHOENIX--(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 [email protected],
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 [email protected].
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180423006458/en/
Carvana
Investor Relations:
Mike Levin
[email protected]
or
Media
Contact:
Kate Carver
[email protected]
Source: Carvana Co.
