---
schema_version: "secwatch.filing_event.v1"
accession: "0001690820-23-000176"
form_type: "8-K"
ticker: "CVNA"
cik: "0001690820"
company_name: "CARVANA CO."
filed_at: "2023-06-02T23:59:59+00:00"
generated_at: "2026-06-14T08:20:30.844003+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Carvana exchange offer fails; $500M minimum participation not met

## Summary
- Carvana's exchange offers for up to $1B of new 9.0%/12.0% Cash/PIK Toggle Senior Secured Second Lien Notes due 2028 expired unaccepted.
- Minimum participation condition of $500M aggregate principal amount of existing notes was not satisfied.
- All tendered Existing Notes will be returned to holders; no consideration paid.
- Offers covered 5.625% 2025, 5.5% 2027, 5.875% 2028, 4.875% 2029, and 10.25% 2030 Senior Notes.

## SEC filing metadata
- accession: 0001690820-23-000176
- form_type: 8-K
- ticker: CVNA
- cik: 0001690820
- company_name: CARVANA CO.
- filed_at: 2023-06-02T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1690820/000169082023000176/0001690820-23-000176-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1690820/000169082023000176/cvna-20230601.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001690820-23-000176
- JSON: https://secwatch.observer/filing/0001690820-23-000176.json
- Plain text: https://secwatch.observer/filing/0001690820-23-000176.txt

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