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<blockquote data-quote="Weather Man" data-source="post: 16592860" data-attributes="member: 137766"><p><a href="https://seekingalpha.com/news/3672800-online-car-wholesaler-acv-auctions-expects-ipo-at-18-dollars-to-20-dollars-a-share" target="_blank">Online car wholesaler ACV Auctions expects $18 to $20 IPO share price, valuing firm above $3B</a></p><ul> <li data-xf-list-type="ul">SoftBank-backed online automobile wholesaler ACV Auctions (<a href="https://seekingalpha.com/symbol/ACVA" target="_blank">ACVA</a>) said Monday that it expects to price its initial public offering at $18 to $20 a share, which would value the company at about $3.1B.</li> <li data-xf-list-type="ul">ACV wrote in a revised S-1 filing with the U.S. Securities at Exchange Commission that it intends to offer 16.55M shares at $18 to $20, and also grant underwriters the option to purchase another 2.48M shares for overallotments.</li> <li data-xf-list-type="ul">That will raise up to $380.65M for the firm if underwriters exercise all overallotment options.</li> <li data-xf-list-type="ul">After the IPO, ACVA expects to have about 154.15M shares outstanding. At $20 a share, that would value the company at just under $3.1B.</li> <li data-xf-list-type="ul">ACVA serves as an online wholesale marketplace for used-car dealers.</li> <li data-xf-list-type="ul">Its pre-IPO packers include SoftBank, Armory Square Ventures, Bessemer Venture Partners and Tribeca Venture Partners.</li> <li data-xf-list-type="ul">Online auto companies have been hot in the IPO market over the past year or so, albeit with mixed results once they start trading.</li> <li data-xf-list-type="ul">Other companies to go public through either traditional IPOs or mergers with special purpose acquisition companies have included Vroom Inc. (NASDAQ:<a href="https://seekingalpha.com/symbol/VRM" target="_blank">VRM</a>), Shift Technologies (NASDAQ:<a href="https://seekingalpha.com/symbol/SFT" target="_blank">SFT</a>) and Carlotz (NASDAQ:<a href="https://seekingalpha.com/symbol/LOTZ" target="_blank">LOTZ</a>).</li> </ul></blockquote><p></p>
[QUOTE="Weather Man, post: 16592860, member: 137766"] [URL='https://seekingalpha.com/news/3672800-online-car-wholesaler-acv-auctions-expects-ipo-at-18-dollars-to-20-dollars-a-share']Online car wholesaler ACV Auctions expects $18 to $20 IPO share price, valuing firm above $3B[/URL] [LIST] [*]SoftBank-backed online automobile wholesaler ACV Auctions ([URL='https://seekingalpha.com/symbol/ACVA']ACVA[/URL]) said Monday that it expects to price its initial public offering at $18 to $20 a share, which would value the company at about $3.1B. [*]ACV wrote in a revised S-1 filing with the U.S. Securities at Exchange Commission that it intends to offer 16.55M shares at $18 to $20, and also grant underwriters the option to purchase another 2.48M shares for overallotments. [*]That will raise up to $380.65M for the firm if underwriters exercise all overallotment options. [*]After the IPO, ACVA expects to have about 154.15M shares outstanding. At $20 a share, that would value the company at just under $3.1B. [*]ACVA serves as an online wholesale marketplace for used-car dealers. [*]Its pre-IPO packers include SoftBank, Armory Square Ventures, Bessemer Venture Partners and Tribeca Venture Partners. [*]Online auto companies have been hot in the IPO market over the past year or so, albeit with mixed results once they start trading. [*]Other companies to go public through either traditional IPOs or mergers with special purpose acquisition companies have included Vroom Inc. (NASDAQ:[URL='https://seekingalpha.com/symbol/VRM']VRM[/URL]), Shift Technologies (NASDAQ:[URL='https://seekingalpha.com/symbol/SFT']SFT[/URL]) and Carlotz (NASDAQ:[URL='https://seekingalpha.com/symbol/LOTZ']LOTZ[/URL]). [/LIST] [/QUOTE]
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