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OPENLANE to Repurchase 53% of Series A Convertible Preferred Stock
- OPENLANE, Inc. has reached agreements to repurchase 53% of its Series A Convertible Preferred Stock, originally issued in June 2020.
- The cash consideration for the repurchase is approximately $559 million, impacting funds advised by Apax Partners and Periphas Capital.
- The repurchase price is $29.70 per share, including potential future dividends tied to the preferred shares.
- The transactions are expected to close between September 30 and October 20, 2025.
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42 Articles
The Berkshire Eagle+41 Reposted by 41 other sources
OPENLANE to Repurchase 53% of Series A Convertible Preferred Stock
CARMEL, Ind., Sept. 9, 2025 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, has reached definitive agreements to repurchase 53% of the Company's Series A Convertible Preferred Stock originally issued in June…
Coverage Details
Total News Sources42
Leaning Left5Leaning Right2Center10Last UpdatedBias Distribution59% Center
Bias Distribution
- 59% of the sources are Center
59% Center
L 29%
C 59%
12%
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