Carvana Co. $302.5 Million Follow-On Offering

Davis Polk advised the joint book-running managers in connection with the $302.5 million public offering of 11,000,000 shares of Class A common stock of Carvana Co. The Class A common stock is listed on the New York Stock Exchange under the symbol “CVNA.”

Wells Fargo Securities, Citigroup and Deutsche Bank Securities acted as joint book-running managers on the offering.

Based in Tempe, Arizona, Carvana Co. is an e-commerce platform for buying used cars that operates in over 55 markets across the country. Carvana Co. provides a platform where consumers can research and identify a vehicle, inspect it, obtain financing and warranty coverage, purchase the vehicle and schedule delivery or pick-up.

The Davis Polk corporate team included partner Alan F. Denenberg (Picture) and associates Donald K. Lang and Dylan Service. The tax team included partner Lucy W. Farr. Counsel Marcie A. Goldstein provided FINRA advice.

Involved fees earner: Alan Denenberg – Davis Polk & Wardwell; Donald Lang – Davis Polk & Wardwell; Dylan Service – Davis Polk & Wardwell; Lucy Farr – Davis Polk & Wardwell; Marcie Goldstein – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Citigroup Inc.; Deutsche Bank Securities; Wells Fargo Securities;

Author: Ambrogio Visconti