Deal sells shares through bookrunners Goldman Sachs and J.P. Morgan
By Devika Patel
Knoxville, Tenn., May 16 - TrueCar Inc. said it priced its $69.98 million initial public offering of stock with a $10.5 million greenshoe.
The company will sell 7,775,000 common shares at $9.00 per share.
Goldman Sachs & Co. and J.P. Morgan Securities LLC are the joint bookrunning managers. RBC Capital Markets, LLC is also a bookrunner.
Settlement is expected May 21.
The Santa Monica, Calif., company offers data and pricing tools to help car dealerships price vehicles. It expects the shares to trade on the Nasdaq under the symbol "TRUE."
| Issuer: | TrueCar Inc.
|
| Issue: | Common stock
|
| Amount: | $69,975,000
|
| Greenshoe: | $10,496,250
|
| Shares: | 7,775,000
|
| Price: | $9.00
|
| Warrants: | No
|
| Bookrunners: | Goldman Sachs & Co. and J.P. Morgan Securities LLC, RBC Capital Markets, LLC
|
| Co-managers: | Cowen and Co., LLC and JMP Securities LLC
|
| Pricing date: | May 16
|
| Settlement date: | May 21
|
| Stock exchange: | Nasdaq: TRUE
|
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