Friday, April 28, 2017

Carvana Prices IPO, To Debut On NYSE Today

Phoenix-based Carvana, the online used car retailer which is best known for its "car vending machines", has priced its IPO at $15.00 per share, at the midpoint of its $14.00 to $16.00 estimated IPO range. The company will start trading this morning as CVNA on the New York Stock Exchange. Carvana raised $225M in its IPO offering. Carvana's business went from only $4.6M in sales in 2013 to $130M in 2015.