Carvana - CVNA STOCK NEWS

Carvana Co. (NYSE: CVNA) will announce its second quarter financial results for the period ending June 30, 2022, on Thursday, August 4, 2022. The announcement will occur after the market closes, followed by a conference call and webcast at 5:30 p.m. ET. Interested parties can join the call by dialing (833) 255-2830 or (412) 902-6715. A replay will be available until August 11, 2022. For further details, visit the Investor Relations section of Carvana's website.

Carvana Co. (NYSE: CVNA) announced its participation in William Blair’s 42nd Annual Growth Stock Conference. The presentation is scheduled for June 7, 2022, at 12:20 p.m. ET at the Loews Chicago Hotel. Investors can access a live webcast on Carvana's investor relations website. Carvana, founded in 2012 and headquartered in Phoenix, is an e-commerce leader in buying and selling used cars, offering over 70,000 vehicles and next-day delivery in over 300 markets across the U.S.

Carvana (NYSE: CVNA) has announced the acquisition of ADESA's U.S. auction business for $2.2B, enhancing its operational capabilities. This acquisition includes 56 U.S. locations, spanning 6.5 million square feet. Carvana aims to utilize this acquisition to improve customer experiences and achieve sustainable efficiencies, positioning itself for growth despite recent industry slowdowns. The deal is expected to bolster Carvana's strategy in the automotive sector, enabling a seamless transition for existing customers under the leadership of ADESA President John Hammer.

Carvana (NYSE: CVNA) has launched its 32nd Car Vending Machine in the U.S. and fourth in California, located in San Francisco. This eight-story facility can hold 27 vehicles and enhances the online car buying experience by allowing customers to shop from over 70,000 used cars. Carvana provides a 7-day return policy, ensuring customer satisfaction. The automated vending process offers a unique pickup experience, and customers can sell their vehicles to Carvana and receive offers instantly. The new location is set to improve accessibility and convenience for car buyers in the tech capital.

Carvana (NYSE: CVNA) expands its services to Flagstaff, Arizona, offering as-soon-as-next-day touchless home delivery of used cars. With over 70,000 vehicles available, customers can shop, finance, and schedule delivery online in five minutes. The company emphasizes a user-friendly process, including a 7-day return policy on all vehicles. Carvana’s certified cars undergo a rigorous 150-point inspection and come with complete vehicle history transparency. This service now reaches 315 cities across the U.S., showcasing Carvana's commitment to innovative, customer-focused car buying.

Carvana Co. (NYSE: CVNA) announced the pricing of a private placement of $3.275 billion in senior unsecured notes with a 10.25% interest rate due in 2030. The net proceeds will primarily fund the acquisition of ADESA's U.S. auction business for approximately $2.2 billion, as well as cover related expenses and working capital. Originally set for $2.275 billion, the offering size was increased, leading to the cancellation of a planned issuance of Series A perpetual preferred stock. The notes will mature on May 1, 2030, with interest payments starting on November 1, 2022.

Carvana Co. (NYSE: CVNA) plans to offer $2.275 billion in Senior Unsecured Notes due 2030 to finance its acquisition of ADESA, Inc.'s U.S. physical auction business for approximately $2.2 billion. The funds from the Notes and a proposed $1 billion Series A perpetual preferred stock offering will be used for this acquisition, related expenses, and general corporate purposes. Notably, neither offering is contingent upon the other, allowing flexibility in financing strategies.