---
schema_version: "secwatch.filing_event.v1"
accession: "0001395942-25-000059"
form_type: "8-K"
ticker: "OPLN"
cik: "0001395942"
company_name: "OPENLANE, Inc."
filed_at: "2025-09-09T23:59:59+00:00"
generated_at: "2026-05-17T07:16:37.601422+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# OPENLANE to repurchase 53% of Series A Convertible Preferred for ~$559M

## Summary
- Repurchasing 334,028 preferred shares (~53% of Series A) from Apax and Periphas for ~$559M cash.
- Repurchase price of $29.70 per common share on as-converted basis, including future dividend value.
- Expected to close after Sept 30, 2025 and before Oct 20, 2025.
- Reduces Apax preferred holdings by ~50% and Periphas by ~80%; CEO cites strong cash generation.

## SEC filing metadata
- accession: 0001395942-25-000059
- form_type: 8-K
- ticker: OPLN
- cik: 0001395942
- company_name: OPENLANE, Inc.
- filed_at: 2025-09-09T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1395942/000139594225000059/0001395942-25-000059-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1395942/000139594225000059/kar-20250909.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001395942-25-000059
- JSON: https://secwatch.observer/filing/0001395942-25-000059.json
- Plain text: https://secwatch.observer/filing/0001395942-25-000059.txt

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