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Openlane Inc(KAR-N)

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OPENLANE Announces Results of Offer to Purchase Certain of its Outstanding 5.125% Senior Notes due 2025

PR Newswire - Fri Jun 2, 2023

CARMEL, Ind., June 2, 2023 /PRNewswire/ -- OPENLANE, Inc. (f/k/a KAR Auction Services, Inc.) (NYSE: KAR) (the "Company"), today announced the results of its previously announced offer to purchase (the "Asset Sale Offer") up to $140,000,000 of its 5.125% Senior Notes due 2025 (the "Notes") for cash at a price equal to 100% of the principal amount of the Notes, equivalent to $1,000 per $1,000 principal amount of Notes, plus accrued and unpaid interest, if any, for such Notes up to, but not including, June 2, 2023.  The Asset Sale Offer was made pursuant to indenture governing the Notes (as amended and supplemented, the "Indenture") and an Offer to Purchase and related Letter of Transmittal, each dated May 3, 2023.


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