Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
Samsung Electronics Shares Jump on HBM4 Mass Production Report 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
CAMBRIDGE, Mass., Oct. 16, 2017 -- CarGurus, Inc. (NASDAQ:CARG), a global, online automotive marketplace connecting buyers and sellers of new and used cars, today announced the closing of its initial public offering of 10,810,000 shares of Class A common stock, including the full exercise by the underwriters of their option to purchase 1,410,000 additional shares of Class A common stock, at a public offering price of $16.00 per share, before underwriting discounts. CarGurus issued and sold 3,205,000 shares of Class A common stock and the selling stockholders sold an additional 7,605,000 shares of Class A common stock. The shares are listed for trading on the NASDAQ Global Select Market under the symbol “CARG.”
Goldman Sachs & Co. LLC and Allen & Company LLC acted as joint lead book-running managers. RBC Capital Markets, LLC also acted as a joint-book running manager. JMP Securities LLC, Raymond James, and William Blair & Company, L.L.C. acted as co-managers.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on October 11, 2017. 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 or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The offering was made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained from Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, New York 10282, via telephone: 1-866-471-2526 or email: [email protected] or Allen & Company LLC, Prospectus Department, 711 Fifth Avenue, 10th Floor, New York, New York 10022, via telephone: 212-832-8000 or email: [email protected].
About CarGurus
Founded in 2006 by Langley Steinert, co-founder of TripAdvisor, CarGurus is a global, online automotive marketplace connecting buyers and sellers of new and used cars. The company uses proprietary technology, search algorithms and data analytics to bring trust and transparency to the automotive search experience and help users find “Great Deals From Great Dealers.” In addition to the United States, CarGurus operates online marketplaces in Canada, the United Kingdom and Germany.
Investor Contact:
Seth Potter
ICR, Inc, for CarGurus
888-508-1190
[email protected]
