KAR Auction (KAR) Prices 13.5M Secondary Offering at $17.50/Share

Article Related Press Releases (2) Related Articles (1) Related SEC Filings (2) Stock Quotes (1) Comments (0)

KAR Auction Services (NYSE: KAR) has priced the secondary offering of 13,500,000 shares of its common stock at $17.50 per share.

The selling stockholder, KAR Holdings II, LLC (the "LLC"), is selling all of the 13,500,000 shares. The LLC is controlled by entities affiliated with Kelso Investment Associates VII, L.P., GS Capital Partners VI, L.P., ValueAct Capital Master Fund, L.P. and Parthenon Investors II, L.P. The underwriters have a 30-day option to purchase up to an additional 2,025,000 shares from the LLC. The Company will not receive any proceeds from the offering.

The offering is being made pursuant to the Company's existing effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• NPS Pharmaceuticals (NPSP) Prices 6M Common Stock Offering
• TCP Capital (TCPC) Prices Upsized 4.5M Common Stock Offering
• UPDATE: Senate Takes Aim at Apple (AAPL); Says Irish Unit Earned $22B, Paid $10M in Taxes

Create E-mail Alert Related Categories

Corporate News, Equity Offerings

Related Entities

ValueAct Capital, LLC, Jeffrey W. Ubben, S3

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?