Carvana Co. (CVNA) Announces Proposed Offering of Series A Preferred Stock
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Carvana Co. Announces Proposed Offering of Series A Preferred Stock
April 20, 2022 4:52 PM EDTPHOENIX--(BUSINESS WIRE)-- Carvana Co. (NYSE: CVNA), the leading e-commerce platform for buying and selling used cars, today announced its intention to offer, subject to market and other conditions, $1 billion of a new series of perpetual preferred stock, liquidation preference $1,000 per share (the Series A Preferred Stock) in a private offering only to (i) qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act) and (ii) non-U.S. persons outside the United States in offshore transactions in reliance on Regulation S under the Securities Act.
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