ROGERS, Ark., Sept. 19, 2024 (GLOBE NEWSWIRE) -- America's Car-Mart, Inc. (NASDAQ:CRMT) ("Car-Mart" or the "Company"), a large publicly held automotive retailer focused exclusively on the "Integrated Auto Sales and Finance" segment of the used car market, announced today the pricing of its underwritten public offering of 1,700,000 shares of its common stock at a price to the public of $43.00 per share. In addition, Car-Mart has granted the underwriters a 30-day option to purchase up to an additional 255,000 shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about September 20, 2024, subject to satisfaction of customary closing conditions.
Car-Mart intends to use the net proceeds from the proposed offering to repay a portion of the balance on its revolving credit facilities. Any remaining proceeds will be used for general corporate purposes.
Jefferies is acting as the sole bookrunning manager for the offering.
The securities described above are being offered by Car-Mart pursuant to a shelf registration statement on Form S-3 (File No. 333-273034) previously filed with and declared effective by the Securities and Exchange Commission ("SEC"). A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC. When available, copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offering may be obtained from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388 or by email at Electronic copies of the preliminary prospectus supplement and accompanying prospectus will also be available on the website of the SEC at http://www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state ...
