OPENLANE converts remaining preferred stock into 17 million common shares

OPENLANE, Inc. (NYSE: OPLN) announced the conversion of its remaining Series A Convertible Preferred Stock into approximately 17 million shares of common stock, according to a company statement.

The conversion eliminates all outstanding preferred stock from the company's capital structure. Following the conversion, OPENLANE's total outstanding common share count stands at approximately 123.1 million shares.

OPENLANE operates digital marketplaces for wholesale used vehicles, serving automotive manufacturers, dealers, rental companies, fleet operators, and financial institutions. The company is headquartered in Carmel, Indiana.

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