Carvana completes upsized 15.6M share offering at $80; also plans $3.275B in preferred/notes for ADESA

CARVANA CO.

Carvana completed upsized public offering of 15,625,000 shares of Class A common stock at $80.00/share.
Insiders (Ernest Garcia II, Ernie Garcia III, controlled entities) purchased 5,400,000 shares.
Net proceeds from common stock offering to be used for general corporate purposes.
Separate proposed offerings: $1B Series A preferred stock and $2.275B senior notes due 2030.
Those separate offerings intended to finance Carvana's acquisition of ADESA's US physical auction business.

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