Carvana

Carvana Co. Launches Private Exchange Offers, Cash Tender Offer and Consent Solicitations Relating to Existing Notes

Retrieved on: 
Wednesday, August 2, 2023
Online Retail, Retail, Automotive, General Automotive, Technology, Electronic Commerce, Internet, Note, Consent, Exchange offer, Settlement date, SEC Rule 144A, Exchange, Person, Sale, Regulation, Carvana, CUSIP, Collateral, Offers, Solicitation, Security (finance)

Eligible Holders who tender their 2025 Notes in the Cash Tender Offer will receive the Cash Tender Offer Consideration.

Key Points: 
  • Eligible Holders who tender their 2025 Notes in the Cash Tender Offer will receive the Cash Tender Offer Consideration.
  • For each $1,000 principal amount of 2025 Notes validly tendered for cash purchase in the Cash Tender Offer prior to the Expiration Time, Eligible Holders will be eligible to receive $850.00 of cash.
  • Full details of the terms and conditions of the Offers and Consent Solicitations are described in the Exchange Offer Memorandum.
  • Eligible Holders of the Existing Notes are encouraged to read the Exchange Offer Memorandum, as it contains important information regarding the Offers and Consent Solicitations.

Rivian names Alan Hoffman as Chief Policy Officer

Retrieved on: 
Monday, July 31, 2023
Automotive, Automotive Manufacturing, EV, Electric Vehicles, Environment, Manufacturing, Green Technology, Environmental Health, Corporate Affairs, University, Justice, Master of Public Administration, Public policy, Homelessness, United States Department of Justice, Communication, Policy, Automotive industry, PepsiCo, Government, EVS, RAND Corporation, Lafayette College, Management, Carvana, Rivian

Rivian Automotive, Inc. (NASDAQ: RIVN) today announced it has named Alan Hoffman as Chief Policy Officer.

Key Points: 
  • Rivian Automotive, Inc. (NASDAQ: RIVN) today announced it has named Alan Hoffman as Chief Policy Officer.
  • Hoffman starts at Rivian today and will be responsible for implementing the company’s global public policy and regulatory strategy.
  • Hoffman brings more than thirty years of experience in public policy and joins Rivian from Carvana, where he served as head of Corporate Affairs.
  • Alan Hoffman, Chief Policy Officer at Rivian said:
    “As the global demand for EVs continues to grow, Rivian is providing consumers with exceptional and exciting vehicles and is transforming the auto industry.

Carvana Fully Satisfies Public Issuance Requirements of Previously Announced Exchange Offer Transaction Support Agreement, Raising $225 Million Through At-the-Market Equity Offering Program

Retrieved on: 
Thursday, July 27, 2023
Online Retail, Retail, Automotive, General Automotive, Technology, Electronic Commerce, Internet, García, ATM, Carvana, History, TSA, Security (finance), Financial services

Carvana Co. (“Carvana” or the “Company”), the fastest growing used car dealer in U.S. history, today announced that it has raised $225 million through the issuance of approximately 4.9 million shares through its at-the-market equity offering program (“ATM”), fully satisfying the public equity requirement of its exchange offer transaction support agreement (“TSA”).

Key Points: 
  • Carvana Co. (“Carvana” or the “Company”), the fastest growing used car dealer in U.S. history, today announced that it has raised $225 million through the issuance of approximately 4.9 million shares through its at-the-market equity offering program (“ATM”), fully satisfying the public equity requirement of its exchange offer transaction support agreement (“TSA”).
  • “We are pleased to announce that we have successfully raised $225 million through our at-the-market offering program, fulfilling the public issuance commitment of our exchange offer transaction support agreement,” said Mark Jenkins, Carvana’s Chief Financial Officer.
  • “Our liquidity position is strong, and any further issuance under the program would be purely opportunistic.
  • Citigroup Global Markets Inc. and Moelis & Company LLC served as joint sales agents under the ATM program.

Glancy Prongay & Murray LLP Announces Investigation of Carvana Co. (CVNA)

Retrieved on: 
Monday, July 24, 2023
Class Action Lawsuit, Professional Services, Legal, Suite, Helmsley Building, Park Avenue, Carvana, GPM, NYSE

Glancy Prongay & Murray LLP (“GPM”) announces its investigation of Carvana Co. (NYSE: CVNA) concerning the Company and its directors’ and officers’ possible violations of state laws.

Key Points: 
  • Glancy Prongay & Murray LLP (“GPM”) announces its investigation of Carvana Co. (NYSE: CVNA) concerning the Company and its directors’ and officers’ possible violations of state laws.
  • If you inquire by email please include your mailing address, telephone number, and the number of shares purchased and held.
  • This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
  • View source version on businesswire.com: https://www.businesswire.com/news/home/20230724791742/en/

Carvana to Present at Upcoming J.P. Morgan Automotive Conference

Retrieved on: 
Monday, July 24, 2023
Online Retail, Retail, Automotive, General Automotive, Other Automotive, Fleet Management, Webcast, NYSE, Cryptocurrency, Broadcasting, Online shopping, Carvana

Carvana Co. (NYSE: CVNA), the leading e-commerce platform for buying and selling used cars, today announced that senior management will present to the investor community and host meetings at the following conference.

Key Points: 
  • Carvana Co. (NYSE: CVNA), the leading e-commerce platform for buying and selling used cars, today announced that senior management will present to the investor community and host meetings at the following conference.
  • *A webcast of the presentation will be accessible on the investor relations section of the Carvana website ( https://investors.carvana.com/ ).
  • An archived replay of the webcast will be available following the live presentation.

Carvana Partners with Kristen Bell and Dax Shepard in Upcoming Campaign To Illustrate the Ease and Fun of its Online Car Buying and Selling

Retrieved on: 
Thursday, July 20, 2023
Influencer, Retail, Automotive, Other Technology, Internet, Online Retail, Social Media, Technology, Entertainment, Digital Marketing, Other Communications, Marketing, Advertising, Content Marketing, Communications, Other Automotive, General Automotive, Celebrity, Specialty, Growth, Multimedia, Economics, Online shopping, Sales, Carvana

Carvana, an industry pioneer for buying and selling used cars online, today announced a significant collaboration with one of Hollywood’s most charismatic couples, Kristen Bell and Dax Shepard, to show how Carvana’s simple online process has improved the car buying and selling experience making it fair, easy and fun.

Key Points: 
  • Carvana, an industry pioneer for buying and selling used cars online, today announced a significant collaboration with one of Hollywood’s most charismatic couples, Kristen Bell and Dax Shepard, to show how Carvana’s simple online process has improved the car buying and selling experience making it fair, easy and fun.
  • View the full release here: https://www.businesswire.com/news/home/20230720308703/en/
    One of Hollywood’s most charismatic couples, Kristen Bell and Dax Shepard, partner with Carvana on a brand new creative campaign showcasing how Carvana has improved the car buying and selling experience.
  • Carvana successfully disrupted the auto industry with a proven ecommerce model serving millions of satisfied customers with 2022 revenue of $13.6 billion.
  • Following record-breaking first and second quarters this year, Carvana continues to make progress as it drives towards significant positive unit economics and returning to growth.

ROSEN, LEADING TRIAL ATTORNEYS, Encourages Carvana Co. Investors to Inquire About Securities Class Action Investigation – CVNA

Retrieved on: 
Thursday, July 20, 2023
Titan, Advertising, News, NYSE, I-Space (Chinese company), Cryptocurrency, Carvana

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=17341 or call Phillip Kim, Esq.

Key Points: 
  • WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=17341 or call Phillip Kim, Esq.
  • The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
  • Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company.
  • 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017.

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Carvana Co. - CVNA

Retrieved on: 
Wednesday, July 19, 2023
LLP, Pomerantz, News, NYSE, Cryptocurrency, Private investigator, Carvana

NEW YORK, July 19, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Carvana Co. (“Carvana” or the “Company”) (NYSE: CVNA).

Key Points: 
  • NEW YORK, July 19, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Carvana Co. (“Carvana” or the “Company”) (NYSE: CVNA).
  • The investigation concerns whether Carvana and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
  • The Forbes article reported that HyperSport Industries (“HyperSport”), formerly one of Carvana’s reconditioning vendors, regularly submitted duplicative billings to Carvana.
  • Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions.

 Carvana Announces Agreement With Noteholders That Will Provide The Company Significant Flexibility as It Continues to Execute Its Profitability and Growth Plan by Reducing Total Debt, Extending Maturities and Lowering Near-Term Cash Interest Expense

Retrieved on: 
Wednesday, July 19, 2023
Other Retail, Automotive, Other Automotive, Technology, Electronic Commerce, Online Retail, General Automotive, Retail, LLP, Kirkland & Ellis, PJT Partners, PIMCO, White & Case, Multimedia, History, Apollo, White, Ares, Financial adviser, Carvana

This press release features multimedia.

Key Points: 
  • This press release features multimedia.
  • “We continue to have strong conviction in Carvana's strategy and Ernie Garcia's vision to revolutionize the way consumers buy, sell, and finance their vehicles."
  • Moelis & Company LLC served as exclusive financial advisor and Kirkland & Ellis LLP served as exclusive legal advisor to the Company.
  • PJT Partners LP served as exclusive financial advisor and White & Case LLP served as exclusive legal advisor to the ad hoc group of holders of existing unsecured notes.

Carvana Delivers Best Quarter In Company History For Adjusted EBITDA and Total Gross Profit Per Unit

Retrieved on: 
Wednesday, July 19, 2023
Internet, Aftermarket, Automotive, Other Automotive, Technology, Online Retail, General Automotive, Retail, SG, PDT, GAAP, Multimedia, History, EDT, Projection, EBITDA, Carvana, Annual report, Webcast, Depreciation, Growth, Ecosystem, Adjustment, Letter, WalletHub, Total, Bank, Security (finance), Bookkeeping

(Photo: Business Wire)

Key Points: 
  • (Photo: Business Wire)
    “Carvana performed exceptionally well in the second quarter and set Company records for Adjusted EBITDA and gross profit per unit, which was up 94% year-over-year, all while continuing to lower expenses.
  • To supplement the consolidated financial measures, which are prepared and presented in accordance with GAAP, we also refer to the following non-GAAP measures in this press release: Adjusted EBITDA; Adjusted EBITDA margin; and Total gross profit per retail unit, non-GAAP.
  • Adjusted EBITDA margin is Adjusted EBITDA as a percentage of total revenues.
  • Total gross profit per retail unit, non-GAAP is Gross profit, non-GAAP divided by retail vehicle unit sales.