Carvana extends exchange offer expiration to June 1, adds early exchange premium

CARVANA CO.

Exchange offers extended to 5:00 p.m. ET on June 1, 2023; withdrawal deadline extended to May 24.
Eligible holders tendering by June 1 receive $20 per $1,000 early exchange premium.
Total consideration per $1,000: 2025 notes $858.75, 2027 notes $658.75, 2028 notes $646.25, 2029 notes $632.50, 2030 notes $793.75.
Offers target up to $1B aggregate principal of new 9.0%/12.0% Cash/PIK Toggle Senior Secured Second Lien Notes due 2028.
All other terms of the exchange offers remain unchanged.

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