KAR Global commences $140M cash tender offer for its 5.125% Senior Notes due 2025

OPENLANE, Inc.

Offer to purchase up to $140M of $350M outstanding 5.125% Senior Notes due 2025.
Purchase price is 100% of principal ($1,000 per $1,000) plus accrued interest.
Offer expires June 2, 2023; pro rata if oversubscribed; funded by Carvana sale proceeds.
Notes tendered below $140M will be fully repurchased; any excess subject to pro rata.

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