OPENLANE Completes Repurchase of 53% of Series A Convertible Preferred Stock
OPENLANE (NYSE: KAR) announced on Oct 8, 2025 that it has closed the repurchase of 53% of its Series A Convertible Preferred Stock and amended its Credit Agreement to add $550 million in secured term loans to finance the repurchases. The company said the financing was substantially oversubscribed, allowing tighter pricing and a more preferred rate. Management described the demand as validating OPENLANE's cash-generation profile and positioning for continued growth while remaining focused on long-term shareholder value.
OPENLANE (NYSE: KAR) ha annunciato l'8 ottobre 2025 di aver chiuso il riacquisto del 53% delle sue Azioni Ordinarie Convertibili di Serie A e di aver modificato il Credit Agreement per aggiungere 550 milioni di dollari in prestiti a termine garantiti per finanziare i riacquisti. L'azienda ha detto che il finanziamento è stato sovrasottoscritto, permettendo una determinazione dei prezzi più stretta e una tasso più favorevole. La direzione ha descritto la domanda come una conferma del profilo di generazione di cassa di OPENLANE e della sua posizione per una crescita continua, pur restando focalizzata sul valore per gli azionisti a lungo termine.
OPENLANE (NYSE: KAR) anunció el 8 de octubre de 2025 que ha cerrado la recompra del 53% de sus Acciones Preferentes Convertibles de Serie A y enmendado su Acuerdo de Crédito para añadir 550 millones de dólares en préstamos garantizados a plazo para financiar las recompras. La compañía dijo que la financiación estaba sustancialmente sobresubscrita, lo que permitió una fijación de precios más ajustada y una tasa más preferente. La dirección describió la demanda como una validación del perfil de generación de efectivo de OPENLANE y de su posicionamiento para un crecimiento continuo, manteniéndose centrados en el valor para los acionistas a largo plazo.
OPENLANE (NYSE: KAR)는 2025년 10월 8일에 시리즈 A 전환 우선주를 53% 재매입을 마감했고 재매입 자금을 조달하기 위해 신용계약을 수정하여 $550백만의 담보부 기간 대출을 추가했다고 발표했다. 회사는 이 자금 조달이 대폭 초과 청약으로 마감되어 가격 책정을 더 타이트하게 하고 더 우대된 금리를 가능하게 했다고 밝혔다. 경영진은 이 수요를 OPENLANE의 현금 창출 프로필과 지속적인 성장에 대한 위치를 검증하는 것으로 보았으며, 장기 주주 가치에 대한 집중을 유지하면서도 성장을 이어가겠다고 말했다.
OPENLANE (NYSE: KAR) a annoncé le 8 octobre 2025 avoir bouclé le rachat de 53 % de ses actions privilégiées convertibles de série A et avoir modifié son accord de crédit pour ajouter 550 millions de dollars de prêts garantis à terme afin de financer les rachats. La société a déclaré que le financement avait été largement sursouscrit, permettant un prix plus serré et un taux plus favorable. La direction a décrit la demande comme une validation du profil de génération de trésorerie d'OPENLANE et de son positionnement pour une croissance continue, tout en restant concentrée sur la valeur pour les actionnaires à long terme.
OPENLANE (NYSE: KAR) gab am 8. Oktober 2025 bekannt, dass es den Rückkauf von 53% seiner Series-A-Umwandelbaren Vorzugsaktien abgeschlossen hat und seine Kreditvereinbarung dahingehend geändert hat, 550 Mio. USD an gesicherten Term Loans zur Finanzierung der Rückkäufe hinzuzufügen. Das Unternehmen sagte, die Finanzierung sei wesentlich überzeichnet gewesen, was zu einer engeren Preisgestaltung und zu einem vorteilhafteren Zinssatz führte. Das Management beschrieb die Nachfrage als Bestätigung des Cash-Generierungsprofils von OPENLANE und der Positionierung für ein fortgesetztes Wachstum, während man sich weiterhin auf langfristigen Aktionärswert konzentriert.
OPENLANE (NYSE: KAR) أعلنت في 8 أكتوبر 2025 أنها أغلقت إعادة شراء 53% من أسهمها الممتازة القابلة للتحويل من الفئة A وغيّرت اتفاقية الائتمان لإضافة 550 مليون دولار من القروض المضمونة لأجل تمويل عمليات الشراء. قالت الشركة إن التمويل كان مدعوماً بشكل فائق إلى حد كبير، مما أتاح تسعيرًا أقرب وتكاليف فائدة أكثر تفضيلًا. وصفت الإدارة الطلب بأنه يؤكد ملف توليد النقد لـ OPENLANE وموقعها للنمو المستمر مع البقاء مركّزًا على قيمة المساهمين على المدى الطويل.
OPENLANE (NYSE: KAR) 于 2025 年 10 月 8 日 宣布已完成回购其 53% 的系列 A 可转换优先股，并修改了信用协议，在受保期限贷款中增添 5.5 亿美元 以资助回购。公司表示融资为 明显超额认购，从而实现更紧密的定价和更优惠的利率。管理层将这需求描述为对 OPENLANE 的现金产生能力及持续增长定位的验证，同时保持专注于长期股东价值。
- Repurchased 53% of Series A convertible preferred stock
- Raised $550 million in secured term loans to fund repurchases
- Added $550 million of secured debt, increasing leverage
- 47% of Series A preferred stock remains outstanding after repurchase
Strong Market Demand for Term Loan Financing
"I am very pleased that our financing was substantially oversubscribed, allowing us to tighten pricing and achieve an even more preferred rate," said Brad Herring, EVP and CFO of OPENLANE. "I believe this level of interest and support from the investment community reinforces the strong cash generation characteristics of our asset-light digital marketplace and OPENLANE's positioning for continued growth. We remain focused on executing our strategy committed to delivering long-term shareholder value."
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OPENLANE Contacts: |
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Media Inquiries: |
Analyst Inquiries: |
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Laurie Dippold |
Bill Wright |
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(317) 468-3900 |
(317) 249-4559 |
About OPENLANE
OPENLANE, Inc. (NYSE: KAR) makes wholesale easy by connecting the leading automotive manufacturers, dealers, rental companies, fleet operators, captive finance and lending institutions as buyers and sellers to create the most advanced digital marketplace for used vehicles. Our innovative products and services deliver a fast, fair and transparent experience that helps customers make smarter decisions and achieve better outcomes. Headquartered in
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SOURCE OPENLANE, Inc.
FAQ
What did OPENLANE (KAR) announce on Oct 8, 2025 regarding preferred stock?
How did OPENLANE finance the repurchase of Series A preferred stock?
Did the financing for OPENLANE's repurchase attract investor demand on Oct 8, 2025?
What is the shareholder impact of OPENLANE's Oct 8, 2025 repurchase?
Does OPENLANE (KAR) still have Series A preferred stock outstanding after the repurchase?
