ACV Auctions Inc. operates digital automotive marketplaces and data solutions for sourcing, selling and managing used vehicles. Company news centers on its wholesale marketplace, dealer and commercial-client activity, and the performance of offerings such as ACV Auctions, ACV Transportation, ACV Capital, MAX Digital, True360 and ClearCar.
Recurring updates include quarterly results, revenue and Adjusted EBITDA guidance, share repurchase activity, and product development across ACV MAX and VIPER. News also covers AI-powered vehicle inspection, appraisal, pricing and inventory-management tools that combine inspection-backed vehicle data with real-time market signals for dealers.
ACV Auctions has priced its initial public offering of 16,550,000 shares of Class A common stock at $25.00 per share. The offering includes a 30-day option for underwriters to purchase an additional 2,482,500 shares for over-allotments. Shares are set to trade on the Nasdaq under the symbol ACVA starting March 24, 2021, with the offering expected to close on March 26, 2021. Notably, ACV will not receive proceeds from the shares sold by selling stockholders. Major underwriters include Goldman Sachs, J.P. Morgan, and Citigroup.