---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-097925"
form_type: "8-K"
ticker: "OPLN"
cik: "0001395942"
company_name: "OPENLANE, Inc."
filed_at: "2025-10-08T23:59:59+00:00"
generated_at: "2026-05-17T04:18:18.265873+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# OPENLANE completes repurchase of 53% of Series A Preferred Stock, raises $550M in term loans

## Summary
- Repurchased 288,322 Series A Preferred shares from Apax for $482.4M and 45,706 shares from Periphas for $76.5M.
- Repurchased shares represent 53% of outstanding Series A Convertible Preferred Stock; shares cancelled.
- Entered into $550M incremental term loans under amended Credit Agreement to finance repurchases; oversubscribed with tighter pricing.
- CFO Brad Herring noted strong cash generation and growth positioning; financing substantially oversubscribed.

## SEC filing metadata
- accession: 0001104659-25-097925
- form_type: 8-K
- ticker: OPLN
- cik: 0001395942
- company_name: OPENLANE, Inc.
- filed_at: 2025-10-08T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1395942/000110465925097925/0001104659-25-097925-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1395942/000110465925097925/tm2528096d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-097925
- JSON: https://secwatch.observer/filing/0001104659-25-097925.json
- Plain text: https://secwatch.observer/filing/0001104659-25-097925.txt

## Key facts
- Debt Financings
  OPENLANE, Inc. incurred term loan of $550,000,000 with JPMorgan Chase Bank, N.A., as administrative agent at Adjusted Term SOFR Rate plus a margin of 2.50%.
  - Instrument: term loan
  - Principal: $550,000,000
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
  - Rate: Adjusted Term SOFR Rate plus a margin of 2.50%
  - Event: incurrence
  source text: The Second Amendment provides for, among other things, the incurrence of incremental term loans in an aggregate principal amount equal to $550,000,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/1395942/000110465925097925/0001104659-25-097925-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.