Carvana $1.25 billion follow-on offering
The shares are listed on the New York Stock Exchange
Davis Polk advised the representatives of the several underwriters in connection with the follow-on offering of 15,625,000 shares of common stock of Carvana, Co. for total gross proceeds of $1.25 billion. The shares are listed on the New York Stock Exchange under the symbol “CVNA.”
Based in Tempe, Arizona, Carvana Co. is a leading e-commerce platform for buying and selling used cars.
The Davis Polk corporate team included partner Alan F. Denenberg, counsel Jeffrey Gould and associates Jonathan Bye and Travis B. Mitchell. The intellectual property and technology transactions team included partner Frank J. Azzopardi and associates Yana Kipnis and S. Dream Montgomery. The tax team included partner Mario J. Verdolini and associate Bradford Sherman. Members of the Davis Polk team are based in the Northern California and New York offices.