---
schema_version: "secwatch.filing_event.v1"
accession: "0001395942-22-000035"
form_type: "8-K"
ticker: "OPLN"
cik: "0001395942"
company_name: "OPENLANE, Inc."
filed_at: "2022-05-10T23:59:59+00:00"
generated_at: "2026-06-25T21:34:05.216253+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# KAR Global completes $2.2B sale of ADESA U.S. physical auction business to Carvana

## Summary
- Total cash consideration of $2.2B; includes 56 ADESA U.S. vehicle logistics centers and exclusive use of ADESA.com in U.S.
- Chief Commercial Officer John Hammer departs KAR, joins Carvana; receives $1.716M separation payment.
- Pro forma gain on sale estimated at ~$586.4M; $926.2M Term Loan B-6 repaid with proceeds.
- KAR retains digital platforms OPENLANE, BacklotCars, CARWAVE, TradeRev, plus ADESA Canada/UK/Europe and AFC.
- CEO Peter Kelly says sale advances digital strategy and simplifies business model for accelerated growth.

## SEC filing metadata
- accession: 0001395942-22-000035
- form_type: 8-K
- ticker: OPLN
- cik: 0001395942
- company_name: OPENLANE, Inc.
- filed_at: 2022-05-10T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.01, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1395942/000139594222000035/0001395942-22-000035-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1395942/000139594222000035/kar-20220509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001395942-22-000035
- JSON: https://secwatch.observer/filing/0001395942-22-000035.json
- Plain text: https://secwatch.observer/filing/0001395942-22-000035.txt

## Key facts
- Executive change
  John Hammer departed as Chief Commercial Officer at OPENLANE, Inc..
  - Action: departed
  - Role: Chief Commercial Officer
  source text: Upon the completion of the Sale, John Hammer, Chief Commercial Officer for the Company and President of ADESA, Inc., departed the Company and commenced employment with Buyer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1395942/000139594222000035/0001395942-22-000035-index.htm

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